The discount retailer collapsed after last-ditch rescue talks between its owner, TPG Capital, and prospective buyer Rcapital fell apart, putting more than 5,000 jobs at risk.
Deloitte was appointed as administrator, and the audit firm said Poundworld would continue to trade while a buyer for all or part of the business is sought.
However, administrators have now been forced to cut almost 100 jobs at the company’s head office in Normanton, Yorkshire.
In addition, House of Fraser recently announced that it would shut 31 of its 59 branches, because the cost of running its store network had become "unsustainable", and Mothercare said it would close 50 stores.
Meanwhile, on Tuesday Debenhams issued its third profit warning of 2018, as the department store chain admitted it was struggling to keep up with competitors.
Additional reporting by newswires
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