Poundworld’s administrators have announced the closure of 25 stores placing hundreds of jobs on the chopping block.
The Original Factory Shop has had its CVA approved by creditors, which will see the closure of around 10 per cent of its stores.
The founder of Poundland is reportedly considering a return to the high street with a takeover of beleaguered rival Poundworld.
3000 jobs have been thrown back under risk as Poundworld’s administrators reject a rescue bid from its founder Chris Edwards.
The administrators of Poundworld have shot down accusations thrown at them by the retailer's founder Chris Edwards.
Chris Edwards has reiterated his desire to safeguard more than half of the retailer's stores but had a warning for administrators
Poundworld staff are reportedly being given free sandwiches ahead of the likely loss of their jobs.
The Original Factory Shop (TOFS) has launched a CVA proposal in the latest casualty to hit the high street.
Poundworld has started started a closing down sale amid its struggle to find a buyer.
Earlier this month, Poundworld officially fell into administration. The Retail Gazette takes a closer look a what went wrong