Discounter has axed a quarter of its 5,000 staff in two rounds of redundancy this week

This article is more than 2 years old

This article is more than 2 years old

Administrators in charge of finding a buyer for the stricken Poundworld chain have announced a further 80 stores will close – at a cost of more than 1,000 jobs.

The second wave of closures adds to 25 announced earlier this week, which will result in 242 staff at the chain being made redundant this weekend.

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Poundworld collapsed into administration last month after rescue talks with potential buyers failed, sparking fears for the jobs of its 5,000 staff at 335 shops.

Deloitte, the accountancy firm acting as Poundworld’s administrator, said the latest closures will not affect the potential sale of the remaining shops and that discussions with interested parties were ongoing.



The joint administrator Clare Boardman said: “While we remain hopeful that 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 during this difficult time. We are keeping staff appraised of developments as they happen.”

Poundworld’s founder Chris Edwards has previously criticised Deloitte for turning down an offer to buy the business back. He said the deal would have saved 3,000 jobs at the chain.

He said: “The amount of extra money the administrator is holding out for is a drop in the ocean when you consider how much money will be needed to stabilise the business and replenish stock levels, which is where the real costs will be incurred, and that’s why we can’t increase our offer.

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“I now believe the business will close rather than jobs being saved.”

Deloitte said Poundworld had struggled in an increasingly competitive market for discount goods but also blamed “high product-cost inflation, decreasing footfall [and] weaker consumer confidence”.



Its demise echoed similar business failures of high street names this year, including the electronics firm Maplin and Toys R Us.

Store closures and redundancies (announced on 13 July 2018)

Aberdeen 14

Banbury (Castle Quay) 16

Banbury (Banbury Cross) 13

Bexleyheath 17

Birkenhead 8

Blackburn (Poundworld Plus) 13

Bloxwich 13

Blyth Bargain Buys 9

Bolton 7

Bolton (Breightmet) 15

Bootle 11

Bradford (Forster Square) 23

Bradford (Darley Street) 24

Bristol (Avon Meads) 12

Bristol (Channons Hill) 14

Bude 6

Burton upon Trent 10

Canterbury 15

Cardiff 14

Chelmsford 16

Chester 14

Corby 13

Coventry (Gallagher Retail Park) 20

Coventry (Lower Precinct) 14

Cramlington 15

Dagenham 8

Darlington 13

Dewsbury 7

Fleet 8

Fulham 13

Gateshead 14

Glasgow 12

Gloucester 15

Greenock 12

Grimsby 10

Harlow 14

Harrogate 17

Havant 9

Hinckley 10

Huddersfield (New Street) 11

Huddersfield (Piazza Centre) 6

Inverness 12

Jarrow 10

King’s Lynn 26

Kirkby 6

Leeds Crown Point 11

Leeds Kirkgate 13

Leeds Kirkstall Road 12

Leicester 11

Leicester Bargain Buys 7

Liverpool 15

Livingston 16

Llanelli 13

Llantrisant 11

London Archway 17

Manchester 11

Merry Hill 15

Merthyr Tydfil 13

Middlesbrough 12

Northampton 13

Norwich 10

Nottingham 16

Portsmouth 18

Rotherham 15

Seacroft (Leeds) 10

Selby 7

Sheffield 12

Shepherd’s Bush 19

Shrewsbury (Meole Brace) 18

Shrewsbury (Pride Hill) 10

Slough 12

South Shields 12

Southport 7

St Albans 16

Stocksbridge 10

Sunderland 17

Sutton 10

Swinton 7

Watford 12

Wood Green 17

Store closures and redundancies (announced on 10 July 2018)

Ashton 8

Birmingham (The Fort) 9

Blackburn 8

Bradford Ivegate Express 5

Carmarthen 9

Chester 12

Crewe 9

Denton Dual 15

Derby West Field 17

Doncaster 7

Dumfries 10

Grays 9

Halifax 9

Hyde 9

Ipswich 15

Liverpool Belle Vale 8

Loughborough 6

Manchester Arndale Express 9

Middlebrook 10

Newcastle Wallsend 13

North Shields 8

Nottingham Broadmarsh 12

Stretford 9

Sutton Coldfield 10

Wakefield 6