Poundworld Are Rumoured to Be on The Brink Of Administration

Responding to reports that Poundworld has entered administration, Liberal Democrat Leader Vince Cable said: 

“Poundworld’s administration is part of a worrying trend on Britain’s high streets, following the administrations of Toys r Us and Maplin, as well as House of Fraser’s woes. 

“The Government has got to get to grips with helping our struggling high streets, including a strategy that deals with the rise of online shopping and substantially reforming business rates, which has been long promised but not delivered.” 

ABC Comment: Poundworld's product range consists of over 6,000 items including groceries, health and beauty, toiletries, cleaning products and pet care, some of them known brands it has over 350 stores in England, Wales, Scotland and Northern Ireland and it was planning to open 150 new stores within three years.

Poundworld is not to be confused with rival Poundland. 

Image: Poundworld

Economic data released today shows that manufacturing output fell 1.4% in April, the biggest month-on-month decline since October 2012.  Office for National Statistics data also showed that wider industrial output fell by 0.8% in April. The construction sector declined by 3.4% in the first three months of 2018. The construction squeeze is the biggest quarterly decline since 2012.

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