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Further Poundworld store closures confirmed

The administrators of Poundworld have confirmed it will close a further 78 stores next week, resulting in the redundancies of 907 employees when the stores close on either Thursday July 26 or Sunday July 29.

The move follows confirmation that the retailer’s distribution centre operations will close today (Friday 20 July), resulting in the redundancies of 299 employees.

 

The balance of 112 stores are scheduled to close by August 10 and will result in 1,432 employees losing their jobs.

 

A total of 165 stores were closed between July 10 and July 17, with a total of 1,797 jobs lost.

 

Clare Boardman and Daniel Butters, restructuring partners at Deloitte, were appointed as joint administrators to the company on June 11.

 

Clare Boardman, joint administrator, 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.”

At the time of appointment, the business operated from 335 stores and employed around 5,100 people.

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