According to reports, neighbouring Marks and Spencer has plans to expand into the space when Poundland has gone – however, this has not been officially confirmed
Poundland is set to shut another high street store this month after a string of closures already this year. The discount retailer has confirmed that it will be pulling down the shutters on its Chiswick store in West London.
The date the site will shut is earmarked for May 28, meaning shoppers only have weeks left until it goes. Seven branches of Poundland have already shut so far this year.
The news of the closure was broken to shoppers through signs placed in the windows last week. According to reports, neighbouring Marks and Spencer has plans to expand into the space when Poundland has gone. However, this has not been officially confirmed.
Poundland has confirmed the closure is due to a failure to “agree terms that would allow us to keep trading”. On the closure, a Poundland spokesperson said: “We operate from over 800 locations across the UK and Ireland and with so many locations, we constantly review our store portfolio as leases expire or come up for renewal.
“We’d like to thank customers in Chiswick and look forward to welcoming them to our nearest store in Acton.”
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Shoppers took to social media to share their disappointment with the Chiswick High Road closure. One person commented on a post saying: “This is so sad, I can’t believe we’re losing another store”. Another added: “That’s a shame it’s closing. The staff are lovely.”
Another Poundland store in Brackla, Wales, will also be closing this month on May 24. Last month, Poundland’s owner, Pepco Group, said it was considering a possible sale of the UK budget retailer after warning of “more difficult” trading conditions.
At the time, Pepco Group said it was examining “all strategic options” to potentially separate Poundland, which has 850 stores, from the wider group. The Polish group said it might turn its focus to its more profitable businesses in Europe.
In its announcement, it also warned that its underlying earnings would come in at between 50 million euros and 70 million euros (£41.9 million and £58.6 million) as sales remained in “negative territory” over January and February.
Pepco previously warned that the hikes to employer National Insurance Contributions (NICs) and national minimum wage introduced in April would “significantly” add to its costs.
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