The discount chain has been sold for £1 to investment firm Gordon Brothers, the former owner of Laura Ashley, and had already confirmed that it will close 68 branches as part of its major restructure
Poundland has revealed a list of 25 stores that will close for good in August.
The discount chain has been sold for £1 to investment firm Gordon Brothers, the former owner of Laura Ashley, and had already confirmed that it will close 68 branches as part of its major restructure.
Poundland will shut ten stores on August 10 and a further 15 branches will close their doors for good on August 17. Of the remaining 43 stores identified for closure as part the restructuring plan, three have already closed.
This includes the Poundland in Swiss Cottage which shut on April 20, 2024, while its branch in Chiswick closed on May 28 and its Southampton West Quay store shut on June 9.
It has been reported that the remaining 40 stores will close by mid-October. Poundland said the closures, alongside leases expiring, will see its store estate reduced to between 650 and 700. Poundland has around 800 stores currently.
Poundland retail director Darren MacDonald said: “It is of course, sincerely regrettable that our recovery plans include any store closures, but sadly that’s necessary if we’re to achieve our goal of securing the future of thousands of jobs and hundreds of stores.
“While our anticipated network of around 650-700 stores remains a sizeable one, we entirely understand how disappointing it will be for customers when one nearby, closes.
“Nevertheless, we look forward to continuing to welcome them to a nearby Poundland. It goes without saying that we will work closely with colleagues through a formal consultation process in stores scheduled to close, exploring any suitable alternative roles. That work is underway.”
Poundland also revealed it will close its distribution centre at Darton, South Yorkshire and its national distribution centre at Bilston in the West Midlands in early 2026.
Poundland will also stop selling frozen food, and its website will stop taking orders, although shoppers will still be able to browse products and deals online.
It comes after Poundland reported revenues dropped by 6.5% to €985million (£830million) for the six months to March.
In a statement issued last week about the sale of Poundland, Stephan Borchert, Pepco Group chief executive, said: “This transaction will strongly support our accelerated value creation programme by simplifying the group and focusing on our successful Pepco business.
“Poundland remains a key player in UK discount retail, with millions of customers annually and a well-loved brand and proposition.
“We want to sincerely thank all the Poundland team for their ongoing commitment and contribution to the group and wish Barry Williams and his team all the best for the future.”
Poundland stores closing on August 10
- Ammanford
- Birmingham Fort
- Cardiff Valegate
- Cramlington
- Leicester
- Long Eaton
- Port Glasgow
- Seaham
- Shrewsbury
- Tunbridge Wells
Poundland stores closing on August 17
- Bedford
- Bidston Moss
- Broxburn
- Craigavon
- Dartmouth
- East Dulwich
- Falmouth
- Hull St Andrews
- Newtonabbey
- Perth
- Poole
- Sunderland
- Stafford
- Thornaby
- Worcester