Poundworld To Shut Stores In Herts & Northants

Poundworld To Shut Stores In Herts & Northants

13 jobs are said to be lost alongside the second store closure.

The Rotherham store is on Howard Street.

The affected stores include the Portsmouth shop in London Road, and in the Meridian Centre in Havant.

The 80 stores will all close over the weekend of 20-22 July, leaving Poundworld with 230 outlets.

Clare Boardman and Daniel Butters, restructuring partners at Deloitte, were appointed as joint administrators to the company on June 11.

Richard Hyman, an independent retail analyst, said: 'The big picture is there are too many retailers with too many stores for the market to feed'. The Administrators will continue to progress these discussions over the coming days.

The news comes as hopes for a rescue of the beleaguered retailer fade.

'We would like to thank all the employees for their continued support and commitment during this hard time.

At least two potential deals have failed so far, including one from the chain's founder Chris Edwards, who was offering to buy around half of the stores.

However, on Monday the Press Association revealed that the founder of rival Poundland, Steven Smith, is in early-stage talks about a bid to salvage part of Poundworld out of administration.

'We are keeping staff appraised of developments as they happen'.

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