Hub, the variety discounter set up by Poundland co-founder Dave Dodd, has ceased trading and is set to call in the liquidators.

The retailer had been running for just over a year and operated four stores but had planned to open 30 by the end of 2013. The stores all shut this week with the loss of 57 jobs.

“We have fought to succeed, and have not accepted failure without a fight,” said Dodd. “I have had to accept that despite the best endeavours of all our hardworking staff we have been unable to create a ­viable and sustainable business in the current ­climate.”

A former supplier to Hub suggested that the chain failed because it got its branding wrong. “The name above the door did not shout value,” he said. “Poundland and 99p Stores say what it does on the tin. Hub does not. Quite simple really.”