St Albans and Hatfield discount store Poundworld calls in the administrators
Discount chain Poundworld, which has branches in St Albans and Hatfield, is the latest high-street retailer to call in administrators.
Poundworld – which also trades under the name Bargain Buys – appointed administrators on Monday after talks with a potential buyer collapsed, leaving no other option.
Administrators Deloitte have stressed the stores will continue to operate as normal for the moment, with no redundancies. About 5,100 jobs are at risk nationally.
Poundworld’s collapse comes after stores such as Maplin and Toys R Us both went into administration.
Herts MEP Alex Mayer said: “This is devastating news for the staff in stores across Hertfordshire and my thoughts are with them.”
“Shoppers are facing another hole in their high street.”