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Another 40 Poundworld stores to close

Forty more Poundworld stores are to close later this month, leading to the loss of 531 jobs, administrators have announced.

They will shut on Tuesday 24 July.

Discussions with interested parties over the potential sale of “part, or parts of the remaining business” are ongoing, administrators from Deloitte said.
“We are keeping staff appraised of developments as they happen,” joint administrator Clare Boardman said.
“We would like to thank all the employees for their continued support and commitment during this difficult time,” she added.
This marks the third closure announcement from Poundworld’s administrator in two weeks.

Deloitte said earlier this month that 105 stores were to close, affecting around 1,200 jobs, after the retail chain collapsed in June.
The company’s 5,000 employees have been facing a bleak future since the firm went into administration.

More from Business

:: Staff ‘in tears’ as first jobs cut after Poundworld collapse
The founder of Poundworld, Chris Edwards, had been hoping to save some stores and about 3,000 jobs but he said Deloitte had turned down his bid.

Source: Sky

About Business Ideas UK

My name is Joel Bissitt. I have been an entrepreneur for 24 years and have run many small businesses across various sectors. For the last 10 years I have worked mainly within online media, franchising and small business start-ups.

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