One site earmarked for closure this week is Poundland’s branch in Liverpool’s Belle Valle shopping centre with the shutters set to be pulled down on May 6.
Another Poundland site is set to close even more stores this month in a blow to the high street – with two shutting for good this week.
One site earmarked for closure this week is Poundland’s branch in Liverpool’s Belle Valle shopping centre. The shutters will be pulled down for good on May 6. A spokesperson for Poundland said the decision came after it was served notice on the lease.
They added: “We know how disappointing this will be to customers and colleagues. Whenever we have to close a store in these circumstances, we do all we can to look for other opportunities for colleagues and that work is now underway.
“We’d like to thank customers at Belle Vale for their support – and look forward to welcoming them at our other stores across Merseyside.”
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A second Poundland site will be closing this week, with the retailer’s St George’s Centre in Gateshead, Kent, pulling down its shutters this Wednesday, May 8. Another Poundland store in Brackla, Wales, will follow suit on May 24.
The new closure comes just days after the retailer closed its Clapham Poundland branch in London on May 2. The move means the closest Poundland store for the west Londoners will be its Southside Shopping Centre branch in Wandsworth.
On the closures, a Poundland spokesperson said: “Poundland operates from over 800 locations across the UK and Ireland and wth so many outlets, it will be no surprise that we constantly review our store portfolio as leases expire or come up for renewal.”
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.
Full list of Poundland sites closing in May
- Clapham Junction – May 2
- Liverpool Belle Vale Shopping Centre – May 6
- St George’s Centre in Gravesend – May 8
- Brackla, Wales – May 24
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