Discount retailer Poundland has halted its store closure programme, following the execution of its restructuring and recovery plan.
The business initially marked 68 sites for closure under its turnaround programme.
After shutting 57 shops, Poundland paused its store closures, placing its remaining 11 planned closures on hold.
The discounter is still planning to reduce its store network to 650 to 700 sites over time, falling from approximately 800 stores at the start of its restructuring.
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Poundland managing director Barry Williams said: “We’re determined to deliver a simpler, more focused Poundland that keeps its promise of amazing value to customers.
“We appreciate the support we’ve had from suppliers, landlords and other partners who’ve now all been fully briefed on our plans to get us back on track.”
He added: “While there is much work to do, I’m confident that a Poundland focused on the simple value our customers expect, has a bright future.”
Poundland unveiled its return to pricing simplicity in August, rolling out its new grocery pricing to all of its UK stores.
The move simplified grocery ranges at its stores to three price points – £1, £2, £3 – as it scrapped additional price complexity.
The retailer recently avoided falling into administration, after a restructuring plan was approved days before it was set to run out of money.
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