Alworths to become Poundstretcher

TAKEOVER Alworths will become a Poundstretcher
TAKEOVER Alworths will become a Poundstretcher

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THE Alworths store in Cosham is to be taken over by Poundstretcher, without any job losses.

Last month The News exclusively revealed the national chain had gone into administration, just a year after it took over the vacant Woolworths shops.

Administrators Neil Bennett and Michael Healy of Leonard Curtis, have sold the entire business to Poundstretcher Limited.

Mr Bennett said: ‘We are delighted to announce that we have completed the sale of the Alworths business and 15 of the 17 stores placed in administration at the end of March this year.

‘We successfully traded the stores for five weeks and had a lot of interest in the business from the start, resulting in the sale to Poundstretcher.

‘We are delighted that the majority of the 235 jobs across the whole company have been saved and 15 of the stores have joined the Poundstretcher chain.’