Poundland will shut a total of 12 branches on high streets around the UK this month as part of an ongoing restructuring programme. The discount retailer will have shut over 100 shops across the country within the coming weeks after narrowly avoiding entering administration last summer. On top of the dozen stores slated for the chop in January, a further 14 will close next month, with many of those impacted already launching clearance sales with reductions of up to 40% on stock.
Poundland was sold for £1 to investment firm Gordon Brothers in June, and dodged bankruptcy in August after a restructuring plan was approved by the High Court. Darren MacDonald, UK country manager for the brand, said in December: “We know how disappointing it is when we leave a store, but before we close our doors for a fina ltime, we’re determined to say goodbye by offering even more amazing value to customers.”
“The special reductions, on top of the value we provide in every store, will help us leave the locations we’re leaving with pride,” he added.
“And when we close our doors, we look forward to welcoming customers to one of the hundreds of Poundland stores we’ll continue to operate right across the UK.”
The restructuring efforts are expected to cut Poundland’s UK portfolio from 800 shops to between 650 and 700.
Alongside closures, the firm has prioritised simplifying the business by overhauling its pricing structure and returning to simple £1, £2 and £3 pricing across groceries, general merchandise and clothing ranges – with around 60% of grocery items priced at £1.
Bexhill, East Sussex – January 5
Ponders End, Greater London – January 5
Kilmarnock, East Ayrshire, Scotland – January 5
Faversham, Kent – January 6
Mitcham, Greater London – January 14
Liverpool, Merseyside – January 15
Yeovil, Somerset – January 16
Cameron Toll, Edinburgh, Scotland – January 20
Nottingham Eastpoint, Nottinghamshire – January 22
Lymington, Hampshire – January 23
Christchurch, Dorset – January 23
Bristol Avon Meads, Bristol – January 29