Poundworld in jobs blow

POUNDWORLD is to close 25 stores with the loss of 242 jobs.

The 335-store discount chain collapsed into administration last month. This week, founder Chris Edwards has failed to rescue 186 stores along with 3,000 jobs.

Deloitte, which is overseeing the process, said talks are continuing with interested parties. Joint administrator Clare Boardman said: “While we remain hopeful a sale for part 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.”