It's understood that the deal by an Irish family to buy the discounter, Poundworld UK, has collapsed.
David Henderson, whose family opened Ireland's original Poundworld store - an entirely separate chain - in 1984, confirmed earlier this month that an offer had been accepted by administrators, Deloitte, to purchase a number of stores in the UK.
Poundworld UK, which was bought by private equity firm TPG Capital in 2015 for £150 million, collapsed into administration in June, closing over 250 stores and resulting in the loss of 4,000 jobs.
In a statement, the Henderson family said it couldn't make any comment in relation to the process as the family is 'preparing a letter of complaint to the Institute of Chartered Accountants into the conduct of Deloitte UK during the negotiations.'
The family also said it was requesting the Institute to carry out an independent investigation into this issue.
It is also reviewing a number of legal options that can be pursued.
Ray Henderson sold his original Poundworld, then changed to Euroworld, in 2007.
His son, David Henderson, who has experience in the retail sector in Ireland and the US, led the negotiations on this proposed purchase.
