Poundworld to close 40 more shops with 531 job cuts

Brings total number of stores shutting to 145 and redundancies to almost 1,800

Administrators are still hopeful of finding a buyer for part of the business

(REUTERS)

Another 40 Poundworld stores are set to close as administrators continue to seek a buyer for what remains of the business.

The discount store fell into administration in June, putting more than 5,000 jobs at risk, and Deloitte partners Daniel Butters and Clare Boardman were appointed to attempt to find a buyer for the company.

The latest announcement of store closures brings the total number of branches shutting down to 145, and takes the redundancy tally to 1,797.

The administrators said on Tuesday that discussions with interested parties for “the potential sale of part, or parts, of the remaining business” are ongoing.

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