Administrators to Poundworld are to close a further 40 stores and axe 531 jobs, including 23 in Gwent.

The chain has two stores in Gwent. It's Newport store has 11 employees while 12 people work at the Blackwood shop.

Poundworld, which employed around 5,100 people at its peak, collapsed last month, but administrators Deloitte have been unable to find a buyer for the retail chain.

Deloitte assured that discussions with interested parties for the potential sale of "part, or parts of the remaining business" were still ongoing.

The affected stores will close on Tuesday, July 24.

Joint administrator Clare Boardman said: "We would like to thank all the employees for their continued support and commitment during this difficult time.

"We are keeping staff appraised of developments as they happen."

Earlier this month, Deloitte announced that 105 stores would shut, impacting around 1,200 jobs.

The latest store closures come as hopes for a rescue of the beleaguered retailer fade.

Deloitte has turned down a bid for Poundworld from its founder, Chris Edwards, who was looking to save a raft of stores and safeguard around 3,000 jobs.

Mr Edwards, who founded Poundworld in 1974, was critical of how his offer was received by Deloitte, and said he was "shocked and surprised" that he was turned away.

The founder of rival Poundland, Steven Smith, has also been linked to a bid to salvage part of Poundworld out of administration.

Deloitte has also made 100 people redundant at Poundworld's head office in Normanton, West Yorkshire.

Poundworld's collapse came amid falling footfall, rising costs and weak consumer confidence.

The budget retail chain, formerly owned by TPG Capital, is one of a number of retailers to call in administrators this year, with both Toys R Us and Maplin disappearing from UK high streets.

The latest string of Poundworld store closures is set to affect 40 sites across the country.

Here is a list of the locations of each store and the number of staff affected:

Location and total headcount:

Aberdeen 14

Ashton Under Lyne 16

Bangor 10

Belfast 15

Blackwood 12

Bury 15

Castleford 14

Chatham 13

Crystal Peaks 12

Doncaster 9

Dunfermline 13

East Kilbride 16

Edmonton 9

Guiseley 14

Hull 13

Irvine (Rivergate Shopping Centre) 13

Irvine (Riverway Retail Park) 12

Kettering BB 20

Middlesbrough 10

Newbury 11

Newcastle 13

Newport 11

Newtownards 18

Perth 8

Peterlee 11

Plymouth 18

Preston 18

Queensferry 8

Redcar 11

Robroyston 11

Rochdale 16

Rotherham Parkgate 9

Southend 13

Southport 13

St Helens 15

Sutton 13

Swindon 27

Tottenham 14

West Bromwich 13

Wigan 10

Total: 531