More than 1,000 jobs lost as Poundworld announces further closures

Alex Starling, Dean Curtis and Tim Smith 

Another 80 Poundworld stores are to shut, resulting in 1,024 job losses, it has been announced.

The announcement from the company’s administrators means that 105 of Poundworld’s 335 stores are now earmarked for closure.

Deloitte said talks to sell remaining parts of the business continue.

“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,” said Clare Boardman.

At least two potential deals have failed so far, including one from the chain’s founder Chris Edwards, who had tabled a deal to save 186 stores, along with 3,000 jobs. He is out of the running after negotiations stalled because his offer fell short of what the administrator hoped to achieve.

Meanwhile, in June, Alteri investors also pulled out of takeover talks.

Poundworld collapsed into administration on June 11, putting around 5,100 jobs at risk, while the administrators have already made 100 people redundant at Poundworld’s head office in Normanton, West Yorkshire.

The company is owned by US private equity firm, TPG, which also controls restaurant chain, Prezzo.

The store closures are:

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
Coventry
Cramlington
Dagenham
Darlington
Dewsbury
Fleet
Fulham
Gateshead
Glasgow
Gloucester
Greenock
Grimsby
Harlow
Harrogate
Havant
Hinckley
Huddersfield
Huddersfield
Inverness
Jarrow
Kings Lynn
Kirkby
Leeds Crown Point
Leeds Kirkgate
Leeds Kirkstall Rd
Leicester
Leicester (Bb)
Liverpool
Livingston
Llanelli
Llantrissant
London Archway
Manchester
Merry Hill
Merthyr Tydfil
Middlesbrough
Northampton
Norwich
Nottingham
Portsmouth
Rotherham Duk
Seacroft (Leeds)
Selby
Sheffield
Shepherds Bush
Shrewsbury
Shrewsbury
Slough
South Shields
Southport
St Albans
Stocksbridge
Sunderland
Sutton
Swinton
Watford
Wood Green

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