36 local jobs at risk as Poundworld calls in administrators

Poundworld on Yorkshire Street, Rochdale

36 local jobs are at risk after discount retailer Poundworld called in administrators on Monday (11 June).

The budget retailer has appointed Deloitte as administrators after a rescue deal fell through.

Locally, there are three Poundworld stores on Yorkshire Street, Kingsway and in the Middleton shopping centre, employing a total of 36 members of staff.

A spokesperson for the company said: “Poundworld will continue to trade while a buyer for all or part of the business is sought.  There are no redundancies or store closures at this time.”

Like many high street retailers, Poundworld has suffered from high product cost inflation, decreasing footfall, weaker consumer confidence and an increasingly competitive discount retail market.

Clare Boardman, joint administrator, comments: “The retail trading environment in the UK remains extremely challenging and Poundworld has been seeking to address this through a restructure of its business. Unfortunately, this has not been possible. We still believe a buyer can be found for the business or at least part of it and we are keeping staff appraised of developments as they happen.  We thank all employees for their support at this difficult time.”