POUNDWORLD has started a closing down sale at its Derry store after administrators failed to find a buyer for the business.
The budget retailer, owned by private equity firm TPG Capital, collapsed a fortnight ago, putting a total of 5,100 jobs at risk.
Poundworld has 12 stores in the north at the Richmond Centre in Derry, Newtownabbey, Newtownards, Omagh, Armagh, Craigavon, Cookstown, Bangor, and four in Belfast, employing 188 people.
The budget chain has 335 stores across the UK, which are still operational and continue to receive stock from the business’ distribution centre.
The news came days after House of Fraser detailed its plans to shut 31 stores, affecting around 6,000 jobs.
Several retailers have collapsed into administration this year, with both Maplin and Toys R Us disappearing from the UK.
New Look, Mothercare and Carpetright have also been shutting stores in a bid to stay afloat.
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