It's the end of the Worlds as pound shops fold

POUND WORLD will soon be no more.

The chain, which closed its Town store at the end of last year, is shutting its remaining shops in both Jersey and Guernsey.

Owner Martin Cottier blamed the credit crunch.

'We ran out of money, it's as simple as that,' he said. 'I feel absolutely terrible. We thought that moving from Town would help, and for a while it did, but we were 30% down compared to last January. It shocked us.'

Liquidators were called in after a meeting last week. Mr Cottier said he had been advised to close down or the shops would be trading fraudulently.

The timing of the closure would be determined by the liquidators.

'The credit crunch is the only thing I can put it down to,' he said.