Posted: Mon 11th Jun 2018

Poundworld enters administration – stores to keep trading as buyer for business is sought

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Monday, Jun 11th, 2018

A discount store has entered administration, putting thousands of jobs at risk across the UK.

Poundworld confirmed the announcement this morning after talks to secure a buyer for the retailer collapsed.

An estimated 5,300 jobs have now been put at risk, including those in Broughton and the store on Deeside Retail Park.

Administrators Deloitte say the retailer will continue to trade while a buyer for all or part of the business is sought. No redundancies or store closures being announced at this time.

A statement released by the administrators notes: “The retail trading environment in the UK remains extremely challenging and Poundworld has been seeking to address this through a restructure of its business.

“Unfortunately, this has not been possible. We still believe a buyer can be found for the business or at least part of it and we are keeping staff appraised of developments as they happen.

“We thank all employees for their support at this difficult time.”

Grainger Games on Eagles Meadow closed earlier this year due to entering administration. Wrexham has also seen the loss of electrical store Maplin, which closed in May 2018 after the company collapsed.

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