Poundworld takes stock

Stricken budget chain Poundworld has begun a closing down sale.

The move comes just over a week after the firm plunged into administration, putting more than 5,000 jobs at risk. Nearly 100 head office staff were made redundant earlier this week.

Administrators stressed that the sell-off of stock “does not mean that stores will definitely close”.

They insist efforts are still being made to “secure a sale of the business either in whole or part”.

Prices are being slashed between 10% and 50% under the sale, and it is thought a decision on Poundworld’s fate will be made next Monday.