Another 80 Poundworld stores to shut, resulting in 1,024 more job losses
Another 80 Poundworld stores are to shut, resulting in 1,024 more job losses.
Administrators have struggled to sell the discount retailer as a whole since it went bust last month.
Hit hard: Administrators have struggled to sell the discount retailer as a whole since it went bust last month
The latest raft of closures will leave Poundworld with 230 open branches. It made an announcement earlier this month over the closure of 25 stores, all of which will stop trading this weekend.
Those closures will put 242 staff out of work. Poundworld, which was formerly owned by private equity firm TPG Capital, had been operating with 335 stores and around 5,100 staff before it collapsed in June.
Clare Boardman, joint administrator for Deloitte, said: ‘While we remain hopeful a sale for part, or parts, of the business can still happen, it has not been possible to sell the business as a whole.
‘We would like to thank all the employees for their continued support and commitment.’