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Two more town stores to close

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By Fiona Reid
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Two more town stores to close

DUMFRIES was dealt a double jobs blow this week with the announcement of two store closures.

The Poundworld Plus at the Peel Centre is to close this weekend with the loss of ten posts.

Struggling discount retailers Poundworld announced a rst wave of store closures on Tuesday as ad- ministrators continue to try to nd a buyer for the troubled chain.

And the Dumfries site is one of 25 across the country set to cease trading at the end of business on Sunday, resulting in the loss of ten local jobs.

Poundworld currently has 335 stores and employs more than 5000 people across the UK.

The rst wave of closures will lead to 242 redundancies nationally.

Deloitte restructuring partners Clare Boardman and Daniel Butters were appointed joint administrators of the company on June 11, follow- ing reports that two potential buy- out deals had collapsed.

Clare said: “Whilst we remain hopeful that a sale for part 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 sup- port and commitment during this dif cult time.

“We are keeping staff appraised of developments as they happen.”

Meanwhile, the Original Factory Shop in Irish Street is one of 32 nationwide facing the chop, in a bid to save the wider brand.

The Original Factory Shop (TOFS) chain has received the green light to go ahead with its Company Volun- tary Agreement (CVA) proposal.

The plans will see 32 stores, in- cluding Dumfries and Lockerbie, and a distribution centre close, and new investment ploughed into the troubled rm by its private equity owner Duke Street.

A spokeswoman for TOFS said: “The CVA has been approved, meaning the new investment from Duke Street and the debt write- off from their lenders will now go ahead, putting the business on a much stronger, nancial footing to deliver the turnaround plan.

“While this is a tough measure, re ective of the broader retail en- vironment, it is good news that TOFS will be in pole position to push ahead with their new ‘journey to growth’ strategy.”

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