Business

Poundworld axes hundreds more jobs as it closes HQ, warehouse and stores

Poundworld is axing hundreds more jobs as it closes its head office, warehouse operations and another batch of stores.

POUNDWORLD is axing hundreds more jobs as it closes its head office, warehouse operations and another batch of stores.

It has been reported that the budget retailer is closing its warehouse and distribution network, alongside its head office in Normanton, West Yorkshire, leading to the loss of 300 jobs.

Administrators at Deloitte are also informing staff of another batch of store closures, which could include those in the north, having announced the closure of 145 already.

Earlier this week the administrators confirmed two store closures in Northern Ireland at Belfast and Newtownards, at a cost of 33 jobs.

Poundworld fell into administration on June 11, putting more than 5,100 jobs at risk across its 335-store portfolio.

Deloitte has been announcing tranches of store closures over the past two weeks after failing to find a buyer for the whole business.

On Tuesday, Deloitte said it was still in discussions with interested parties for the potential sale of "part or parts of the remaining business".

The latest job losses come as hopes for a rescue fade.

The Gaucho restaurant group also fell into administration on Thursday, with the Cau chain being closed immediately, leading to the loss of 540 jobs.

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