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Retail

Poundworld Administrators To Close Further 40 Stores

Deloitte, the administrators of the troubled Poundworld chain, have announced plans to close a further 40 stores.

The latest round of stores earmarked for closure will shut their doors next Tuesday, 24 June.

The administrators are still seeking a buyer for the single price chain, saying that discussions over the sale of “part, or parts of the remaining business” were continuing.

“We would like to thank all the employees for their continued support and commitment during this difficult time,” a Deloitte spokesperson said in a statement.

“We are keeping staff appraised of developments as they happen.”

The latest round of closures are expected to impact 531 employees. Previously, Deloitte had earmarked 105 stores for closure, with 1,200 employees due to be affected.

© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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