Cambridgeshire MEP fears Brexit is damaging the high street following Poundworld going into administration
- Credit: Archant
A Cambridgeshire MEP has blamed Brexit for the “hole in the high street” as discount retail store Poundworld goes into administration.
Alex Mayer MEP said it was “devastating news” for staff across the county as thousands of jobs were put at risk last week.
It came after talks with a potential buyer, R Capital, collapsed leaving Poundworld with no option other than administration.
Following the announcement, Ms Mayer said: “This is devastating news for the staff in stores across Cambridgeshire.
“My thoughts are with staff at the branches in Peterborough, Wisbech and Cambourne.
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“Shoppers are facing another hole in their high street. I blame Brexit.”
Poundworld has cited “high product cost inflation” as one of the reasons for the chain’s difficulties.
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The Euro MP continued: “With the collapse in the value of the pound since Brexit, it costs far more to buy products from abroad.
“Brexit is destroying jobs and making people worse off right now – imagine how much worse it will be if the Tory hardliners have their way and get the ‘hard’ destructive Brexit they want.”