THE Poundworld store in Bangor’s High Street is to close later this month with the loss of 10 jobs.

The store is one of a group of 40 stores to close across the country, which was announced by administrators Deloitte today.

Poundworld, which employed around 5,100 people at its peak, and operated 335 stores, collapsed last month, and administrators Deloitte has since been unable to find a buyer for the retail chain.

Joint administrator Clare Boardman said: "We would like to thank all the employees for their continued support and commitment during this difficult time.

"We are keeping staff appraised of developments as they happen."

Poundworld's collapse came amid falling footfall, rising costs and weak consumer confidence.

Deloitte has said discussions with interested parties for the potential sale of part, or parts of the remaining business were continuing, but the latest store closures come as hopes for a rescue of the beleaguered retailer fade.

Deloitte has also made 100 people redundant at Poundworld's head office in Normanton, West Yorkshire.

The budget retail chain, formerly owned by TPG Capital, is one of a number of retailers to call in administrators this year, with both Toys R Us and Maplin disappearing from UK high streets.

Today’s news follows two earlier announcements earlier this month one of which saw the closure of 25 stores, and the other of 80 stores.