Poundworld to close all stores costing thousands of jobs

Bankrupt British retailer Poundworld will close all of its remaining stores as well as its distribution centre and head office, shedding more than 2,600 jobs, its administrators announced on Thursday. The budget chain, which went into administration last month, said it will shutter the stores in several phases over the next three weeks.
The first wave Friday will see the closure of the logistics centre and headquarters, with the departure of 299 employees, followed by a further 78 stores and 907 staff. The remaining 112 stores will be closed by August 10, resulting in the dismissal of another 1,432 workers.
The brand, known for its single-pound price on most of its products, had 335 stores and employed nearly 5,100 people before entering bankruptcy in June. Administrators Deloitte had already closed 145 stores and laid off 1,797 people, after failing to find a last-ditch buyer to take over the business.