More jobs at risk as Poundworld goes into administration

More jobs at risk as Poundworld goes into administration

Poundworld has called in administrators putting 5,100 jobs across 350 stores at risk and adding another casualty to the never ending list of high street stores that are finding trading difficult.

This comes after Toys R Us and Maplin went into administration earlier this year and House of Fraser announced it is axing 31 of its stores and putting 6,000 jobs at risk.

Poundland has announced that it is in talks to appoint an administrator after rescue talks broke down. The retailer has reported that it was hit with a £5.7 million charge for onerous leases, a provision retailers make when the cost of a lease is no longer covered by the income of the store.

 

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