Stevenage store threatened as Poundworld enters administration

PUBLISHED: 12:55 11 June 2018 | UPDATED: 13:00 11 June 2018

Bargain Buys in Stevenage, which is part of the Poundworld chain. Picture: Google Street View

Bargain Buys in Stevenage, which is part of the Poundworld chain. Picture: Google Street View

Archant

Discount chain Poundworld, which has a branch in Stevenage town centre, is the latest high-street retailer to call in administrators.

Poundworld – which also trades under the name Bargain Buys in locations including Stevenage – appointed administrators today after talks with a potential buyer collapsed, leaving no other option.

Administrators Deloitte have stressed that the stores will continue to operate as normal for the moment, with no redundancies. About 5,100 jobs are at risk nationally.

Apart from the shop in Stevenage’s Queensway, the closest Poundworld branches are in Hatfield and St Albans.

Poundworld’s collapse comes after electronics chain Maplin and Toys R Us – each with Stevenage sites – both went into administration this year. There have also been casualties among independent businesses, including Hitchin town centre’s Hawkins and Kenmore Interiors department stores.

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