Poundworld to close ALL stores by the end of next month
POUNDWORLD will disappear from the high street next month after its administrators announced the chain’s final set of store closures.
The budget retailer also announced that it is shutting down its distribution centre in West Yorkshire tomorrow.
Administrators Deloitte said all of Poundworld’s stores will likely close by August 10 – affecting 2,339 staff.
And the store is also closing its head office in Normanton, West Yorks, which will result in the loss of 300 jobs.
Poundworld fell into administration on June 11, putting more than 5,100 jobs at risk across its 335-store portfolio.
Deloitte has been announcing tranches of store closures over the past two weeks after failing to find a buyer for the whole business.
Clare Boardman, joint administrator at Deloitte, said: "We would like to thank all the employees for their continued support and commitment during this difficult time.
“We are keeping staff appraised of developments as they happen."
Latest Poundworld closures
These are the latest round of Poundworld stores that will be closing between July 20 and 22:
- Aberdeen
- Banbury
- Banbury
- Bexley Heath
- Birkenhead
- Blackburn
- Bloxwich
- Blyth Bb
- Bolton
- Bolton Breightmet Rp
- Bootle
- Bradford
- Bradford
- Bristol
- Bristol
- Bude
- Burton Upon Trent
- Canterbury
- Cardiff
- Chelmsford
- Chester
- Corby
- Coventry
See the full list of closures here.
The administrators are still in talks with some interested parties about selling parts of the remaining business, but hopes of saving a significant number of jobs has faded.
Deloitte has turned down a bid from company founder Chris Edwards, who was looking to save a raft of stores and safeguard around 3,000 jobs.
The founder of rival Poundland, Steven Smith, has also been linked to a bid to salvage part of Poundworld out of administration.
The bargain chain went bust in June, putting more than 5,000 jobs at risk and administrators have been desperately attempting to secure a buyer for the business ever since.
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The collapse came amid decreasing footfall, rising costs and weak consumer confidence.
The budget retail chain, formerly owned by TPG Capital, is one of a number of retailers to call in administrators this year, with Toys R Us and Maplin disappearing from UK high streets.
The Gaucho restaurant group also fell into administration on Thursday, with the Cau chain being closed immediately, leading to the loss of 540 jobs.
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