Tory economic failure: Even discount shops like Poundworld can’t stay open

High Street shops are suffering badly under Conservative government mismanagement of the economy, with Poundworld being the latest casualty.

And businesses are saying Theresa May’s planned Brexit will make matters much, much worse.

That is what MPs should be considering when they start voting on the EU Withdrawal Bill.

Poundworld has collapsed into administration, putting more than 5,000 jobs at risk across its 335 shops, after rescue talks failed over the weekend.

The discount retail chain’s demise follows the collapse into administration this year of the electronics firm Maplin and Toys R Us.

House of Fraser announced plans last week to close 31 stores, putting a further 6,000 jobs at risk. Mothercare, New Look and Carpetright are closing dozens of outlets.

Restaurants including Prezzo, the burger chain Byron and Jamie’s Italian have also closed outlets.

Tory policy means anyone who loses their job will be bullied out of applying for unemployment benefits, so the government can claim that more people are in work than ever before.

And the number of people in debt, in destitution, with mental health problems, without a home, will rise again.

That’s Tory Britain. And with a complicit, right-wing press to keep the facts from the public, most people won’t even know this is happening… until it happens to them.

MPs have a chance to start turning this around when they vote on the government’s latest pointless Brexit plans.

But will they have the guts to do what’s right – or will they just do as they are told, like good little sheep?

Source: Poundworld falls into administration, putting 5,000 jobs at risk | Business | The Guardian

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3 thoughts on “Tory economic failure: Even discount shops like Poundworld can’t stay open

  1. NMac

    The utter nonsense of Brexit must be stopped ASAP. The whole edifice of the so-called “Leave” camp was based on barefaced lies and, as more evidence becomes available, outright fraud. There will be absolutely no benefits to the vast majority of British people, including Leave voters – only unemployment and severe hardship. That is fact and not scaremongering.

    1. 4foxandhare

      Although I completely agree with your comment seems that you may be disappointed in your wish. Earlier this evening, I watched a Parliamentary Debate to decide the terms and conditions of leaving, and it’s not looking good.

  2. Dez

    The UK market is well served with” me to” cheap jack stores eg the Poundstores, B&M,Range,Wilkos etc and the saturation of such small margin stores was bound to lead to commercial failures such as Poundworld…….which was probably why there was no real takeover bidders to enter the same over provided low margin market. The internet providers have been taking big chunks of the market for a while now many onliners having far smaller expense lines by not being screwed by Councils rates and Property owners rent and of course car parking still far to high to encourage foot fall shoppers. Many as a result of Conservative led Councils living on another planet. I am sure many other weaker providers will be failing well before Brexit happens… should the Globalists every let it happen. The real poorer population does not have money to spend and have been cutting back since the Cons came to power and holding back the less fortunate and vulnerable. Not much profit from food bank users.

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