Lincoln Poundworld no longer at risk of closure

The Administrators of Poundworld Retail Limited has confirmed the company no longer has plans to close its Lincoln store.

This comes after the company announced the closure of 25 of its 335 stores – with Lincoln’s Tritton Road shop not featuring on the list, despite ‘closing down sale’ posters at the site.

The impacted 25 stores will hold their last day of trading on Sunday, July 15. This will result in the redundancies of 242 employees on Tuesday, July 17.

The 25 stores closing include:

  • Ashton
  • Birmingham (The Fort Retail Park)
  • Blackburn
  • Bradford Ivegate EXPRESS
  • Carmarthen
  • Chester
  • Crewe
  • Denton DUAL
  • Derby West Field
  • Doncaster
  • Dumfries
  • Grays
  • Halifax
  • Hyde
  • Ipswich
  • Liverpool Bell Vale
  • Loughborough
  • Manchester Arndale EXPRESS
  • Middlebrook
  • Newcastle Wallsend
  • North Shields
  • Nottingham Broadmarsh
  • Stretford
  • Sutton Coalfield
  • Wakefield

These closures will not impact on the potential sale of the remaining business, with discussions continuing with interested parties.

The offers received are in respect of a significant number of stores and include the Head Office and Distribution Centre. The Administrators will continue to progress these discussions over the coming days.

Clare Boardman, joint administrator, said: “Whilst we remain hopeful that a sale for part of the business can still happen, it has not been possible to sell the business as a whole, resulting in today’s announcement.

“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.”

This comes after retailer Carpetright announced that it no longer plans to close its Lincoln branch.