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.
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
Birmingham (The Fort Retail Park)
Bradford Ivegate EXPRESS
Derby West Field
Liverpool Bell Vale
Manchester Arndale EXPRESS