Poundworld to close 25 stores as rescue talks continue

 
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Some 242 people will lose their jobs as a result (Source: Getty)

Poundworld is to close 25 stores, resulting in 242 job losses.

The news comes after the chain's founder confirmed he was out of the running for a possible rescue bid.

But it emerged yesterday that the founder of rival Poundland is also in talks with administrators. Administrators at Deloitte said that discussions continued with a number of interested parties.

Each of the stores set to be axed employs between six and 17 people, meaning a total of 242 will be made redundant out of the 5,100 Poundworld employs

“Whilst we remain hopefully that a sale for part of the business can still happen, it has not been possible to sell the business as a whole, resulting in today’s announcement," commented Deloitte's Clare Boardman, who is a joint administrator of the chain.

Full list of store closures

Ashton

Birmingham (The Fort Retail Park)

Blackburn

Bradford Ivegate EXPRESS

Carmarthen

Chester

Crewe

Denton DUAL

Derby West Field

Doncaster

Dumfries

Grays

Halifax

Hyde

Ipswich

Liverpool Bell Vale

Loughborough

Manchester Arndale EXPRESS

Middlebrook

Newcastle Wallsend

North Shields

Nottingham Broadmarsh

Stretford

Sutton Coalfield

Wakefield

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