Poundworld to close 25 stores putting 242 jobs at risk
The bargain chain went bust last month, putting more than 5,000 jobs at risk
POUNDWORLD is to close 25 stores, resulting in 242 job losses as trouble on the high street continues.
The bargain chain went bust last month, putting more than 5,000 jobs at risk and administrators have been attempting to secure a buyer for the business ever since.
A memo sent to employees, seen by the Sun Online, today said that the last day of trading for the impacted stores will be July 15, with the final date of employment being Tuesday July 17.
It said: “As previously advised, the administrators have been preparing contingency plans in the event that we are not able to deliver a sale of the business as a whole.
“These plans have continuing and it is with regret that the administrators have taken the decision to effect an organised wind down of 25 stores, starting today.”
“Once again, we thank you all for your continued support and commitment during this difficult time.”
List of Poundland store closures
HERE are the shops that will stop trading on Sunday
- Doncaster
- North Shields
- Wakefield
- Stretford
- Sutton Coalfield
- Ashton
- Blackburn
- Manchester Arndale
- Denton
- Derby West Field
- Nottingham Broadmarsh
- Grays
- Middlebrook
- Chester
- Newcastle Wallsend
- Bradford Ivegate
- Birmingham
- Crewe
- Halifax
- Liverpool Bell Vale
- Loughborough
- Ipswich
- Carmarthen
- Dumfries
- Hyde
It comes after the bargain chain’s founder Chris Edward confirmed his bid to save the company out of administration and safeguard around 3,000 jobs was turned down earlier this week.
The discounter has 355 stores across the UK and employs about 5,500 people
Like many other retailers in recent months, the company has been hit by rising costs, falling consumer demand and the weaker pound.
On Monday, Mothercare announced it will shut 60 stores, leading to the loss of hundreds of jobs.
The company is one of the country’s biggest maternity and children’s retailers with about 140 stores in the UK and more than 5,000 employees worldwide.
SHUTDOWN Which high street stores have closed in 2018? Shop closures in full from Mothercare and Maplin to Toys R Us, Carpetright and Poundworld
It follows similar moves taken by New Look and Carpetright, which are expected to close 60 and 92 stores respectively, putting hundreds of jobs at risk.
In March, fashion retailer Next also revealed it will axe 60 of its shops putting 980 jobs at risk.
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