Luton and Dunstable’s Poundworld stores will remain open for now, despite 145 shops closing across the country.
The Administrators of Poundworld Retail Limited has announced the closure of 40 more stores today (Tuesday), this is in addition to the 105 stores announced last week.
Despite the Poundworld Plus in The Mall Luton, which opened in February last year, having ‘Store Closing’ signs on the front windows it will remain open. Dunstable’s Poundworld, which opened in The Quadrant at the end of 2016, will also remain open.
The high street discounter launched a UK wide “closing down” sale last month, despite not all shops closing.
The closure of the stores will not impact the potential sale for part, or parts, of the remaining business, with discussions continuing with interested parties, including the Head Office and Distribution Centre. The Administrators will continue to progress these discussions over the coming days.
The closure of the stores will begin on Sunday, July 15, and will be phased over one week, reducing the number of open stores to 190.
The closures will result in the redundancies of over 1,700 employees.
Clare Boardman and Daniel Butters, restructuring partners at Deloitte, were appointed as joint administrators to the Company on Monday, June 11.
Clare said: “Whilst we remain hopeful that a sale for part, or parts, of the business can still happen, it has not been possible to sell the business as a whole.
“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.”