Poundworld goes into administration

Poundworld goes into administration

Discount store Poundworld has joined the growing list of household names from the UK high street that have gone into administration.

Administrators Deloitte said that Poundworld’s network of more than 350 stores will continue to operate at normal, with no redundancies at this time.

In a media statement issued today, Deloitte commented: “Like many high street retailers, Poundworld has suffered from high product cost inflation, decreasing footfall, weaker consumer confidence and an increasingly competitive discount retail market.”

Clare Boardman, joint administrator at Deloitte, said: “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.”

As previously reported, electronics retailer Maplin and Toys’R’Us went into administration earlier this year, and the department store House of Fraser announced last week that it would close 31 of its 59 shops.

 

Relevant Directory Listings

Listing image

Dynaxys copy

Dynaxys is a Woman-Owned Small Business (WOSB) with 30 years of experience providing innovative and cost-effective technology solutions and business services to government, non-profit, and commercial customers. We design, build, and manage enterprise systems that solve complex business challenges. Using our extensive expertise in government […]

Find out more

Other Directory Listings

About The Author

Ian Taylor

Ian Taylor is the Editor of Triangle’s Mail & Express Review Magazine and the www.postandparcel.info portal. Ian has been a business journalist for almost 30 years, editing and writing for a wide range of magazines and newspapers with a particular focus on the transport and logistics industries.

Advertisement

Advertisement

MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a a must-read for those who want the inside track on the industry.

 

P&P Poll

Loading

In the future, what type of food will we see delivered more often through domestic letter boxes?

Thank you for voting
You have already voted on this poll!
Please select an option!



Pin It on Pinterest

Share This