Staff at Poundland in Ivybridge could face an uncertain future as the discount retailer's American owners prepare to make a crucial decision over the company's finances.

Thursday is D-Day when it’s US owners Gordon Brothers decide whether to put the company into administration.

Their European boss Mark Newton-Jones is facing questioning by MPs behind closed doors.

The company is thought to be requiring approval for every payment the company makes which means some suppliers are losing money even though the company is still turning over millions of pounds a day nationwide.

The Dartmouth store closed last August after the company was sold by Polish owners Pepco Group to US investment company Gordon Brothers for £1.

Martin Property Group are hoping to mount a rescue deal and are calling on the owners to release tens of millions of pounds to restock the shelves and save 10,000 jobs.

The group which is based in Northern Ireland want to acquire Poundland as a going concern.