Jul 13, 2018
Poundworld to close another 80 stores
Another 80 Poundworld stores will be closed, resulting in 1,024 job losses, the company's administrators have said. Poundworld went into administration last month after failing to cope with rising costs, fewer shoppers and greater competition. The company's administrators, Deloitte, said talks to sell remaining parts of the business continue. Poundworld traces its origins back to 1974 and a market stall in Wakefield, West Yorkshire. In 2016-17 it Poundworld reported losses of £17.1m, which was partly the result of tough competition from rivals including Poundland and Poundstretcher.
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