THE future of the two Poundworld stores in Inverclyde is uncertain as owners draw up plans to close more than a quarter of stores.

It is understood that Poundworld is expected to announce proposals for a Company Voluntary Arrangement (CVA) in the coming weeks.

If it proceeds with the CVA as many as 100 of the firm's 355 stores could close.

Poundworld currently employs more than 5,500 people and although the company will seek to redeploy as many of those affected by the closures as possible, hundreds of jobs would still be lost.

With no information on the stores which may be affected the future of the stores in the Oak Mall in Greenock and Gallagher Shopping Park in Port Glasgow remains uncertain.

The retailer is putting together a restructuring plan similar to that of New Look, Toys R Us and Carpetright due to weak sales and rising costs.

It was recently announced that the Carpetright store in Greenock's Waterfront Retail Park has been earmarked for closure by September of this year and although the company aim to redeploy as many staff as possible there is no information on how many staff at the store could lose their job.