Poundworld closes up shop

The budget retailer went into administration in June and Clare Boardman and Daniel Butters, restructuring partners at Deloitte, were appointed as joint administrators. At the time, the business had 335 stores and employed 5,100 people.

The Administrators of Poundworld Retail Limited announced on Thursday, July 19, that all of its remaining stores, the distribution centre and head office functions, will close, resulting in the redundancies of 2,638 employees.

The distribution centre closed on Friday, July 20, and 78 stores will close this week.

The remaining 112 shops including the one in The Quadrant, Dunstable, and in George Street, Luton, are scheduled to close by August 10.

Poundworld has already closed 145 stores and made 1,797 employees redundant.

Clare Boardman said: “We would like to thank all the employees for their continued support and commitment during this difficult time. We are keeping staff appraised of developments as they happen.”