Poundworld to shut stores across the Midlands with loss of 48 jobs

48 jobs will be lost when Poundworld closes stores in the Midlands this weekend Credit: PA

Four Midlands Poundworld stores are set to close this Sunday (July 15) with the loss of 48 jobs.

Administrators to the struggling budget retailer have announced they will shut a total of 25 outlets across the UK, resulting in 242 job losses.

Poundworld went into liquidation in June and Deloitte, which is overseeing the process, has been attempting to secure a buyer for the business ever since.

A memo to staff at the stores affected said the last day of trading would be the end of this week. They will be made redundant on July 17.

The memo reads:

The Midlands stores which will close are:

  • Poundworld Sutton Coldfield (Red Rose Shopping Centre)

  • Poundworld Derby (West Field)

  • Poundworld Birmingham (Fort Shopping Park)

  • Poundworld Nottingham (Intu Broadmarsh)

Clare Boardman, joint administrator, said there were hopes that a sale for part of the remaining business could still happen but explained:

Poundworld, formerly owned by private equity firm TPG Capital, has 335 stores and employs around 5,100 people.

Deloitte have already made 100 people redundant at Poundworld’s head office in Normanton, West Yorkshire.