The closure forms a wider strategy to shut down 68 stores across the UK
A view of the Poundland store after the retailer announced plans to close several stores (Image: Liam McBurney/PA Wire)
Poundland has revealed plans to shut down dozens of its stores across the UK as part of a strategy aimed at recovery and restructuring. The discount retailer, which opened its doors in 1990 and quickly became a hit with shoppers looking for £1 bargains, has seen a shift in its pricing policy since 2019.
Back in June, Pepco Group sold the discount chain for £1 after it was hit by a sharp downturn in trading in recent years and it was later announced a total of 68 branches would close. The discount chain will shut 10 stores on August 10 and a further 15 branches will close their doors for good on August 17.
Poundland will then pull down the shutters on a further ten sites on August 24. As part of the 68 stores closing, three have already done so, including Swiss Cottage which shut on April 20, 2024, Chiswick which closed on May 28 and Southampton West Quay which shut on June 9.
Poundland’s retail director Darren MacDonald previously 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.”
He added: “While our anticipated network of around 650 to 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.”
MacDonald also confirmed that the company is currently in formal consultation with affected staff members, exploring possible alternative roles within the business, reports Nottinghamshire Live.
One of the stores closing this month is in Merseyside. It was announced that Bidston Moss, Wallasey, would be closing on August 17. The shop only opened on September 7 last year.
In its announcement, Poundland confirmed the following store closures:
Set to close on August 10:
Ammanford, Carregaman Road
Birmingham Fort, The Fort Shopping Park, Birmingham
Cardiff Valegate, Valegate Retail Park, Cardiff
Cramlington’s Manors Walk Shopping Mall
Leicester’s Charles Street
Long Eaton’s Chapel Street
Port Glasgow’s Gallagher Shopping Park
Seaham’s Byron Place
Shrewsbury’s Darwin Shopping Centre
Tunbridge Wells’ Grosvenor Road
The following stores are set to close on August 17:
Bedford, Midland Road
Bidston Moss, Junction One Retail Park, Wallasey
Broxburn, East Main Street
Craigavon, Rushmere Retail Park, Belfast
Dartmouth, Victoria Road
East Dulwich, Lordship Lane
Falmouth, Market Street
Hull St Andrews, St Andrews Retail Park
Newtownabbey, Longwood Retail Park
Perth, St Catherine’s Retail Park
Poole, Falkland Square, The Dolphin Centre
Sunderland, Pallion Retail Park
Stafford, Queens Retail Park, Old Rickerscote Lane
Thornaby, Pavillion Shopping Centre
Worcester, High Street
Poundland’s managing director, Barry Williams, has acknowledged the challenges ahead, admitting there is “much work to do” to return the company to its former glory.
In June, Mr Williams said although Poundland remains a strong brand, it has fallen short of expectations. He emphasised the need for immediate action to kick-start business growth.
He voiced his regret over the unavoidable closure of stores and distribution centres, but stressed that it was crucial to safeguard thousands of jobs and ensure the survival of numerous other outlets.
Poundland, a company employing around 16,000 people and serving nearly 20 million customers each year, has unveiled a restructuring plan. As per this strategy, the number of Poundland stores is anticipated to drop from roughly 800 to somewhere between 650 and 700.