Jobs cut at Poundworld head office

Published on: 20th June 2018

Discount retailer has made 98 people redundant as administrators struggle to find a buyer for the chain.

The job cuts at the office in Normanton, West Yorkshire, come after the retailer collapsed last week, putting a total of 5,100 jobs at risk.

Last week, Poundworld’s rival Poundland guaranteed a job interview for any Poundworld workers who are made redundant.

The chain, owned by private equity firm TPG Capital, continues to trade normally – its 335 stores are still open and continue to receive stock.

Deloitte asked for bids for Poundworld to be submitted by last Friday, but it is thought a buyer for the whole business may not materialise.

It said the firm was hit by falling footfall, rising costs and weak consumer confidence, when it announced the administration.

TPG said putting the business into administration was a “difficult decision”, and that the retailer was affected by a decline in the UK retail sector.


Friday Blog

Forget about the price tag … it’s the Friday Blog!

Zuru unveils new Mini Brands collection in time for Christmas

Mojo Fun partners with Quercetti in exclusive distribution deal

Plus-Plus partners with Tumble Tots

Exclusive: Deddy Bears on the fright track

Exclusive: Asmodee’s Star Wars: Unlimited TCG

Tickets now available for Spielwarenmesse 2024

Exclusive: Curious Universe’s phenomenal five-year growth

Ravensburger launches UK’s tallest GraviTrax marble run

Mattel releases fourth Claudia Schiffer Barbie