Poundland's US owner, Gordon Brothers, is under pressure to extend legal protection from creditors after a tense UK parliamentary session on November 11.
With a rescue deal deadline looming on November 12, the move could buy crucial time for the struggling retailer.
Liam Byrne urges unlocking Poundland accounts
Labour MP Liam Byrne urged Gordon Brothers to unlock Poundland's bank accounts so a rescue plan can happen, potentially saving around 12,000 jobs.
The company bought Poundland last year for just £1 and said it is focused on protecting jobs and preserving value.
Extending creditor protection could be key to giving Poundland another shot.