Chester ’s Maplin electronics store closes down today (Monday, June 11) – on the same day it was announced Poundworld had gone into administration.
The Maplin outlet, at Chester Retail Park, is one of more than 200 around the country shutting its doors since that retailer also went into administration.
Unfortunately, the retailer’s store at the Coliseum, near Cheshire Oaks , closed a few weeks ago.
Experts say the business was hit by a slump in the value of the pound after the Brexit vote, weak consumer confidence and a withdrawal of credit insurance.
Meanwhile, discount retailer Poundworld has today appointed administrators, putting 5,100 jobs at risk.
The move came after a rescue bid involving potential buyer, R Capital, collapsed.
Poundworld has outlets at The Forum and Foregate Street in Chester, Broughton Shopping Park, Ellesmere Port and Queensferry.
Similar factors are believed to be behind the discounter’s woes including falling consumer confidence, rising overheads and the weaker pound.
Last week it was revealed Chester’s £300m Northgate Development had been dealt a massive blow after House of Fraser announced it no longer planned to deliver the anchor store for the scheme. The move is part of a rescue deal for House of Fraser which includes the closure of 31 of its 59 stores.
