Poundworld’s administrators will close a further 80 stores on top of the 25 previously announced.
Some 1,024 employees will be affected by the decision, bringing the total number of redundancies to 1,266.
Deloitte partners Clare Boardman and Daniel Butters have been trying to find a buyer for the business since it fell into administration in June.
The administrators said the closures would not impact the potential sale of other parts of the business, and there are still ongoing discussions with interested parties – including the potential sale of the head office and distribution centres.
Ms Boardman said: “Whilst we remain hopeful that a sale for part, or parts, 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 during this difficult time. We are keeping staff appraised of developments as they happen.”
Dave Gill, Usdaw national officer, said: “We welcomed Deloitte’s initial approach for Poundworld to continue to trade while a buyer for all or part of the business is sought. However, now the second wave of store closures have been announced, it is clear the future of the business looks very bleak.
“We are helping our members find alternative employment with other retailers that recognise Usdaw and we were pleased to secure a promise from Poundland to offer any former Poundworld workers an interview. They are experienced shopworkers who find themselves unemployed through no fault of their own, we urge retailers with vacancies to look at employing ex Poundworld staff.”
The stores are set to be closed in a “phased” process between the 20 to 22 July, and will leave the total number of Poundworld shops still open to 230.
The following locations have been added to the list of stores shutting: