giftedviz.com
giftedviz.com October 21, 2018


Union calls for urgent talks over future of South Yorkshire Poundworld staff

12 June 2018, 03:39 | Austin Hogan

"Usdaw is providing the support and advice our members require at this very hard time and we expect the administrators to ensure all staff are treated with dignity and are fully consulted".

The budget retailer is poised to appoint Deloitte to handle an administration after last-ditch rescue talks with R Capital broke down over the weekend.

Poundworld, which also trades under the name Bargain Buys, welcomes two million customers through its doors each week and competes with the likes of Poundland and Poundstretcher.

Like many retailers, Poundworld has been hit by falling consumer confidence, rising overheads, the weaker pound and the growth of online shopping.

Clare Boardman, joint administrator at Deloitte, said: 'The retail trading environment remains extremely challenging and Poundworld has been seeking to address this through a restructure.

Deloitte said there are no redundancies or store closures now and has been working alongside the company in a bid to keep it afloat. Unfortunately, this has not been possible'.

Abramovich rejects offer from Britain's richest man to buy Chelsea
The businessman missed the FA Cup final victory against Manchester United that sparked further unrest among the Chelsea camp. It means there's been speculation that Abramovich could up sticks after buying Chelsea for £140million in 2003.


G7 Summit far from harmonious
Trump's renewed comments on trade come amid a growing dispute between Washington and its top allies. Justin Trudeau wears fake eyebrows and takes really good care of us most of the time.


Technologies may reduce cost of carbon uptake from atmosphere
All of the technology required to build the new carbon capture system already exists, according to MIT Technology Review . Banks of fans blow air through a carbon dioxide-capturing solution in this rendering of a direct air capture plant.


A report by the Centre for Retail Research suggested that 31,000 stores would close and 552,500 High Street jobs disappear between 2017 and 2022. "We thank all employees for their support at this hard time".

The company, which has 335 shops and sells everything from flip-flops to deodorant and baked beans, racked up losses of £17.1million a year ago.

Poundworld's collapse comes after electronics chain Maplin and Toys R Us - each with Stevenage sites - both went into administration this year.

Poundworld, which is owned by TPG Capital, has around 350 stores, including one on Tavern Street in Ipswich as well as stores in Chelmsford and Kings Lynn.

A TPG spokesperson said it was a "difficult decision for every party involved".

"Despite investing resources to strengthen the business, the decline in United Kingdom retail and changing consumer behaviour affected Poundworld significantly".



Other News

Trending Now

Assassin's Creed Odyssey Screens Leak Out
In Odyssey , you can choose to play as Alexios or Kassandra , but it doesn't appear that Ubisoft made a statue for Kassandra. The upcoming game will also feature dialogue choice options that decide how the story will pan out.

Trudeau and Kenney, and Notley offer congratulations on Ford victory in Ontario
People waved party signs and embraced while they waited for Ford to arrive. "We have won more seats than we have in a generation". NDP Leader Andrea Horwath was also pressed on the issue, and would only say that the decision was Ford's to make.

Trump Cannot Leave Kim Summit Empty Handed, Lawmakers Say
After concluding the summit, Trump planned to speak to reporters in Singapore before flying home, the White House said. Regis , where security has been ramped up over the course of last week.

Robert De Niro Yells ‘F*** Trump’ at Tony Awards, Gets Standing Ovation
The actor, producer, and director has also played the special counsel Robert Mueller on " Saturday Night Live ". De Niro raised his fists in the air and simply said "f*** Trump" earning himself a sustained standing ovation.

Rescue boat drifts at sea as Italy takes anti-migrant stance
Under the global law, people rescued in the sea should be brought to the closest and safest port for assistance. On Sunday, Salvini said Italy was saying "no to human trafficking, no to the business of illegal immigration".

BT boss Gavin Patterson to step down
Patterson, who led the British group for five years, would remain in his post until a successor is chosen later this year. The decision to overhaul the company was made to cut costs and boost profits as BT invests in 5G technology.

Square Enix's E3 2018 showcase is short and sweet
That suggests the transition we saw in the video is how the game works - blending TV show style cut scenes with gameplay. That trailer also featured more footage of the confirmed worlds and even some new hints at the major plot of the game.

Robert De Niro yells 'F--k Trump' at Tony Awards
Tina Fey is a superstar and she wrote a snappy, smart script for " Mean Girls ", a musical based on her popular 2004 movie. The smart bet was that Broadway would give her a Tony for her script. "It's f*** Trump." Even more cheers erupted.

Putin Says He Would Welcome a Meeting With Trump
He said that he shares Trump's concern about the escalation of an arms race between the USA and Russian Federation . He added that Moscow will continue to honour its obligations under the Iranian nuclear deal.

Singapore designates special zone for Trump-Kim summit
Former New York Mayor Rudy Giuliani says special counsel Robert Mueller's team is trying to frame President Trump . They're very powerful, and we would not take those sanctions off unless North Korea denuclearises", she said.