Future of Poundworld stores in Corby and Kettering at risk

Poundworld in Corporation Street, Corby. NNL-181106-104735005
Poundworld in Corporation Street, Corby. NNL-181106-104735005

Discount retailer Poundworld is expected to go into administration, throwing the future of its stores in Corby and Kettering into doubt.

Talks between the bargain chain, which employs more than 5,000 people, and potential buyer R Capital have collapsed.

It’s not known how many people are employed at the branch in Corporation Street in Corby and Northfield Avenue.

Poundworld has 355 stores and also trades under the Bargain Buys brand name.

Deloitte is expected to oversee the Poundworld’s administration period.

The expected announcement is the latest in a line of bad news for the retail sector.

Last month Marks and Spencer announced their Kettering store is earmarked for closure.

Maplin also went into administration, leading to a fire sale in its Kettering branch.

And last week House of Fraser announced it was shutting more than half of its stores, although the Rushden Lakes unit is not one that is closing.