Poundworld has withdrawn from the Poundshop.com venture it launched with Poundland co-founder Steve Smith in February.
Poundworld will instead launch its own ecommerce operation later this year.
Poundshop.com was billed as the first single-price transactional site.
Poundworld said it failed to “reach a shared vision for the online store” with Smith. The retailer had committed to lending its branding to the site, supplying stock and providing product images for the site.
Smith was leading other aspects of the business including operations, fulfillment, customer service and marketing.
However, Poundworld said its “ongoing concerns surrounding the operations, online trading, web platform and marketing of the site has resulted in a mutual agreement to dissolve the partnership”.
Poundworld trading director Chris Edwards said: “A mutual and constructive decision has been made by both parties for Poundworld to end its association with the Poundshop.com brand.
“We are still committed to online and Poundworld is putting plans in place to go it alone with our own online venture.
“By doing so, this will enable us to have full control over all aspects of the business ensuring that the site reflects our ongoing brand values and strategy.
“We wish Steve every success for the future.”
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