POUNDWORLD is to close another 80 stores resulting in more than 1,000 redundancies.
The new closures are on top of the 25 that the retailer had already planned to shut, bring the total number of closures to 105 branches.
This is the second round of closures announced this week, as the discounter desperately searches for a buyer.
Closures will start being rolled out from Friday July 20 until Sunday July 22.
It will bring the total number of Poundworld stores down to 230 across the UK from 335 stores.
Joint administrator Clare Boardman said: “Whilst 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.
Latest Poundworld closures
These are the latest round of Poundworld stores that will be closing between July 20 and 22:
- Bexley Heath
- Blyth Bb
- Bolton Breightmet Rp
- Burton Upon Trent
See the full list of closures here.
“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.”
The latest round of closures 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.
Poundworld first announced that it would be going into administration on June 11, and appointed Deloitte to handle it.
It is understood that TPG and Poundworld’s management rejected offers to buy the business out of a pre-pack administration, and were hoping to sell it as a solvent business.
Poundland has stepped in to offer guarantee job interviews to Poundworld staff.
Writing on LinkedIn, retail director Austin Cooke at Poundland UK and Ireland said they would “guarantee an interview” to Poundworld staff.
It’s the latest blow to the high street as retailers continue to struggle with high rents and a drop in footfall.
Toys R Us went bust earlier this year and since shut most of its UK operations.
Posh burger chain Byron will shut four branches in the UK, The Sun Online exclusively told in September, 2017.
Mothercare also announced it will close 50 stores in a bid to save the struggling firm – putting hundreds of jobs at risk.
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