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Poundworld to close a further 40 stores

Poundworld is to close a further 40 stores with the move resulting in the loss of over 500 jobs. The shops earmarked for closure will shut… View Article

GENERAL MERCHANDISE

Poundworld to close a further 40 stores

Poundworld is to close a further 40 stores with the move resulting in the loss of over 500 jobs.

The shops earmarked for closure will shut on 24 July.

The retailer went into administration last month and since then administrators at Deloitte have been trying to find a buyer for all of parts of the company. Prior to going into administration, Poundworld had 335 stores in the UK and employed 5,100 people.

The news follows previous announcements that the retailer will close 105 stores.

Claire Boardman, joint administrator, said: “We would like to thank all employees for their continued support and commitment during this difficult time. We are keeping staff appraised of developments as they happen.”

Some 100 people have also been made redundant at Poundworld’s head office in Normanton in Yorkshire.

Last week Poundworld’s founder Chris Edwards said his offer to buy 186 stores had been turned down.

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