Poundworld slashes 531 jobs as another 40 stores close

The Telegraph Lifestyle 3 months ago

Poundworld’s administrators have axed more than 500 jobs and closed another 40 stores as efforts to find a buyer for the business continue.

Deloitte plans to shut the shops on Tuesday, July 24, causing the stricken discount chain to shed a further 531 jobs.

It means 145 stores have been shuttered and 1,897 staff have lost their positions since the retailer collapsed last month.

Poundworld had 335 shops and employed around 5,100 staff, but was pushed into administration when efforts to secure a solvent sale of the business failed.

The administrators said talks were continuing with a number of potential bidders over “a potential sale of part, or parts, of the remaining business". 

Poundworld went...

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