Discount retailer Poundworld is drawing up plans to close 355 branches, 355 of its 355 stores, the latest victim of weak sales and rising rents on the UK 's high streets. Like other struggling retailers – New Look, House of Fraser and Aldi have also recently announced turnaround plans – Poundworld is seeking rent cuts at many of its remaining stores. its estimated 5,500 of its estimated 5,500 jobs would be at risk if the plan goes ahead. Casual dining outlets are also feeling the high street pinch, with restaurant chain Poundworld gaining creditors' backing to shut scores of branches.
Discount retailer Poundworld is drawing up plans to close up to 100 branches, more than a quarter of its 355 stores, the latest victim of weak sales and rising rents on the UK's high streets. Like other struggling retailers – New Look, House of Fraser and Carpetright have also recently announced turnaround plans – Poundworld is seeking rent cuts at many of its remaining stores. Hundreds of its estimated 5,500 jobs would be at risk if the plan goes ahead. Casual dining outlets are also feeling the high street pinch, with restaurant chain Prezzo gaining creditors' backing to shut scores of branches.