80 more Poundworld stores to shut, resulting in 1024 more job losses

More than 1,000 jobs are to go with the closure of 80 Poundworld stores including the branch at Merry Hill

EIGHT people will lose their jobs when Poundworld's Birkenhead branch closes its doors next week.

Restructuring partners at Deloitte said they are still trying to find a buyer but that it has not been possible to sell the whole business.

It will leave Poundworld with just 230 open branches.

Deloitte said the closure of the stores would not affect the potential sale of part, or parts, of the remaining business, "with discussions continuing with interested parties".

The beleaguered business is closing 105 stores nationwide, resulting in 1,024 job losses, in addition to the 25 marked for closure last week.

Richard Hyman, an independent retail analyst, said: 'The big picture is there are too many retailers with too many stores for the market to feed'.

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Administrators to collapsed discount retailer Poundworld have announced the closure of a further 80 stores - including ones in Portsmouth and Havant - in an organised wind down.

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'We would like to thank all the employees for their continued support and commitment'.

The news comes as hopes for a rescue of the beleaguered retailer fade.

Poundworld's founder Chris Edwards has previously criticised Deloitte for turning down an offer to buy the business back.

On Monday there were reports that the founder of Black Country-based rival Poundland, Steve Smith, was in early-stage talks about a bid to salvage part of Poundworld out of administration.

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