The JTF Mega Discount Warehouse chain has closed down for the second time in a year.
The chain first fell into administration last summer after all 14 of its stores shut, leading to about 500 redundancies.
It was then bought in September by Poundstretcher subsidiary Bargain Buys, in a deal that allowed the new owners to operate up to nine of the stores across the Midlands and north of England.
All the branches reopened by the new owners have now ceased trading again.
The Grocer revealed last month that only two JTF stores remained following the recent closure of branches in Tamworth, Barrow-in-Furness, Leeds, Lincoln, Newcastle and Hull. Those last two branches, in Kidderminster and Hucknall, closed at the weekend.
An assistant who answered the phone at the Kidderminster branch today (4 March) said it had shut permanently yesterday and staff were now “packing up”.
It is understood staff have been told they can have jobs at Poundstretcher stores.
The Hucknall branch was seeking to recruit as recently as February, with a keyholder position advertised on Facebook.
Prior to their closure, all the JTF stores had been staging sales offering 50% off everything for several weeks, as have a number of Poundstretcher stores across the country recently.
The JTF store closures followed the dismissal of 12 managers as they neared the end of a six-month probationary period under the new owners.
JTF was a 40-year-old business selling home, garden and DIY ranges, along with ‘everyday essentials’ including ambient food and drink.
Since June 2020, Poundstretcher has been engaged in a company voluntary arrangement restructuring process designed to turn around the business by cutting costs.
Sky News reported in January that Poundstretcher’s controlling shareholder Aziz Tayub was exploring a sale of the business following the success of the CVA.
Poundstretcher did not respond to The Grocer’s emailed enquiry.
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