{"id":213381,"date":"2025-06-25T14:43:10","date_gmt":"2025-06-25T14:43:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/213381\/"},"modified":"2025-06-25T14:43:10","modified_gmt":"2025-06-25T14:43:10","slug":"poundland-shutting-two-stores-ahead-of-68-further-branch-closures","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/213381\/","title":{"rendered":"Poundland shutting two stores ahead of 68 further branch closures"},"content":{"rendered":"<p>Last week the entirety of Poundland,, which has stores in Birmingham, was sold by its owners Pepco<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/1750862590_598_0_poundland.jpg\" alt=\"Poundland shutting two stores ahead of 68 further branch closures\" loading=\"eager\"  \/>Poundland shutting two stores ahead of 68 further branch closures<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \">Another two Poundland stores are set to shut in weeks ahead of 68 other shop closures following a \u00a31 rescue deal. Its store in Cowes, Isle of Wight, will shut permanently on July 30, followed by its branch in Newquay, which will close on August 1.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \">Last week the entirety of Poundland,, which has stores in <a class=\"TextLink_text-link__dBSS0 TextLink_enabled__dJF3l\" href=\"https:\/\/www.birminghammail.co.uk\/\" target=\"\" aria-label=\"\" tabindex=\"0\" rel=\"noopener\">Birmingham<\/a>, was sold by its owners Pepco to a US investment company called Gordon Brothers (who used to own Laura Ashley) for a \u2018nominal fee\u2019 of a single pound.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \">Last week a huge restructuring has been announced, with 68 stores set to close. A further 70 Poundlands could shut as a result of the brand seeking rent reductions and lease expirations, and in total more than 1,000 jobs could be at risk.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \"><a class=\"TextLink_text-link__dBSS0 TextLink_enabled__dJF3l\" href=\"https:\/\/www.birminghammail.co.uk\/news\/cost-of-living\/millions-workers-could-handed-1000-31911648\" target=\"_self\" aria-label=\"\" tabindex=\"0\" rel=\"noopener\"><strong class=\"Strong_strong__e2x35\">READ MORE Millions of workers could be handed \u00a31,000 tax-free annual payout<\/strong><\/a><\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \">Poundland currently employs over 16,000 people across 792 branches in the UK and Ireland. The chain hasn\u2019t yet announced which shops will close.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \">Pepco maintains that this does not mean that it\u2019s the end of Poundland, stating that it &#8220;remains a key player in UK discount retail, with millions of customers annually and a well-loved brand and proposition\u2019, and adding that this is simply a move to \u2018[simplify] the group and [focus] on our successful Pepco business.&#8221;<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \">Poundland managing director Barry Williams said of the closures: &#8220;It\u2019s no secret that we have much work to do to get Poundland back on track.&#8221;<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \">&#8220;While Poundland remains a strong brand, serving 20m-plus shoppers each year, our performance for a significant period has fallen short of our high standards and action is needed to enable the business to return to growth,&#8221; he said.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \">Stephan Borchert, the chief executive of Pepco Group, said the sale \u201cmarks an important milestone in our strategic plan to move away from FMCG [fast-moving consumer goods] and focus predominantly on Pepco, our higher margin clothing and general merchandise business\u201d.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \">Pepco said last month that any sale of Poundland would not result in \u201cmajor proceeds\u201d for investors as Poundland might not make a profit in the last financial year.<\/p>\n","protected":false},"excerpt":{"rendered":"Last week the entirety of Poundland,, which has stores in Birmingham, was sold by its owners PepcoPoundland shutting&hellip;\n","protected":false},"author":2,"featured_media":213382,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7820],"tags":[855,748,393,4884,6704,16,15],"class_list":{"0":"post-213381","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-birmingham","8":"tag-birmingham","9":"tag-britain","10":"tag-england","11":"tag-great-britain","12":"tag-poundland","13":"tag-uk","14":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114744538497220546","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/213381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=213381"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/213381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/213382"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=213381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=213381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=213381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}