The Administrators of Poundworld Retail Limited have announced the closure of 80 stores, with Grimsby’s branch included.
This is in addition to the closure of 25 stores announced on July 10.
Poundworld currently has four stores in Lincolnshire including at Lindis Retail Park on Tritton Road in Lincoln, Augustin Retail Park in Grantham, Freshney Place in Grimsby and Foundry Shopping Centre in Scunthorpe.
At the time of writing, only the Grimsby store is set to close, with 10 staff being made redundant.
The closure of these stores will not impact the potential sale for part, or parts, of the remaining business, with discussions continuing with interested parties.
The closure of these 80 stores will be phased from July 20 to July 22, reducing the number of open stores to 230.
This will result in the redundancies of 1,024 employees across the UK. The closure of 25 stores, announced on July 10, will result in the redundancies of 242 employees.
Clare Boardman, joint administrator, said: “Whilst we remain hopeful that a sale for part, or parts, of the business can still happen, it has not been possible to sell the business as a whole.
“We would like to thank all the employees for their continued support and commitment during this difficult time. We are keeping staff appraised of developments as they happen.”