Poundland is preparing a further wave of closures, confirming another 14 stores will shut by early February as it ramps up its turnaround plan under new ownership.
The latest exits come on top of 19 previously announced closures due in the coming months.
By early next year, the discount retailer will have closed more than 100 sites since launching its restructuring programme, which is focused on removing underperforming stores and simplifying the business. It is understood that clearance sales of up to 40% are already under way across affected locations.
The company, sold to Gordon Brothers for £1 in June, avoided administration in August after securing a High Court-approved restructuring plan.
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Poundland has since moved to streamline operations, including returning to a £1, £2 and £3 grocery price architecture across its UK estate.
It expects its store count to fall from around 800 at the start of the programme to between 650 and 700 once restructuring is complete.
Poundland UK country manager Darren MacDonald said the retailer recognised “how disappointing it is when we leave a store,” adding that the additional markdowns would “help us leave locations we’re leaving with pride”.
He added Poundland looked forward to welcoming customers into “the hundreds of Poundland stores we’ll continue to operate right across the UK”.
Latest closures:
- Lancaster (19 Dec);
- Weston-Super-Mare (24 Dec)
- Hammersmith (24 Dec)
- Northampton Sixfields (31 Dec)
- Prestatyn (31 Dec)
- Faversham (6 Jan)
- Liverpool (15 Jan)
- Yeovil (16 Jan)
- Nottingham Eastpoint (22 Jan)
- Lymington (23 Jan)
- Christchurch High St (23 Jan)
- Bristol Avon Meads (29 Jan)
- Winton (6 Feb)
- Coatbridge (8 Feb)
Previously announced closures still to come:
- Christchurch Meteor Retail Park (5 Dec)
- Arnold (6 Dec)
- Worthing (6 Dec)
- Droitwich (9 Dec)
- Ballymena (13 Dec)
- Oldham (13 Dec)
- Weston Favell (19 Dec)
- Portishead (24 Dec)
- Grantham (24 Dec)
- Portadown (31 Dec)
- Farnham (31 Dec)
- Brighton (31 Dec)
- Hempstead Valley (31 Dec)
- Bexhill (5 Jan)
- Ponders End (5 Jan)
- Kilmarnock (5 Jan)
- Mitcham (14 Jan)
- Cameron Toll (20 Jan)
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