Poundstretcher saves Alworths stores

Poundstretcher has stepped in to buy Alworths, taking on 15 of the 17 Alworths stores. Alworths was put into administration in March.

Neil Bennett of administrators Leonard Curtis said: "We successfully traded the stores for five weeks and had a lot of interest in the business from the start.”

He added: "We are delighted that the majority of the 235 jobs across the whole company have been saved."

Alworths, dubbed “son of Woolworths” was founded in 2009 by former Woolworths executive Andy Latham.

Source : The Retail Bulletin
www.theretailbulletin.com/news/poundstretcher_saves_alworths_06-05-11/