Major high street retailer closing 12 stores within 25 days - full list
The retailer is undergoing a major restructure.
Poundland will close 12 stores within 25 days as part of the bargain chain's cost-cutting restructure. The retailer closed the shutters forever on its Nottingham Eastpoint store today, but another dozen closures will follow by February 16, with the last doomed store located in Urmston, Greater Manchester.
The shops will launch "special" discounts as they prepare to shut, a Poundland spokesperson confirmed. These 12 closures are just half of the story; in a bid to balance the books, Poundland has already shut 11 stores since the start of the year. Poundland’s UK country manager, Darren MacDonald, previously said: "We know how disappointing it is when we leave a store, but before we close our doors for a final time, we’re determined to say goodbye by offering even more amazing value to customers."
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He added: "The special reductions, on top of the value we provide in every store, will help us leave locations we’re leaving with pride.
"And when we close our doors, we look forward to welcoming customers to one of the hundreds of Poundland stores we’ll continue to operate right across the UK."
Poundland has faced a challenging year of trading, and last August it narrowly avoided administration after a turnaround deal was approved by the High Court.
Tom Smith KC, for Poundland Limited, wrote that the retailer's financial position had "significantly deteriorated during the last two years" and that it had "performed poorly in a difficult retail and economic environment".
A restructuring deal saw Poundland sold for an apt £1 from Pepco to Gordon Brothers in June, when it had around 825 UK stores and employed around 16,000 staff. This triggered the announcement of widespread closures to save cash and the brand.
As part of the shake-up, the chain said it would return "to its roots" by reverting to its core pricing model, with all grocery items priced at £1, £2, and £3.
Full list of closures
- Lymington, Hampshire: January 23
- Christchurch (47 High Street), Dorset: January 23
- Bearwood Smethwick - January 23
- Gosport - January 29
- Bristol Avon Meads, Bristol: January 29
- Chichester - February 8
- Feltham - February 8
- Winton, Dorset: February 6
- Coatbridge, North Lanarkshire, Scotland: February 8
- Crayford - February 11
- Nottingham (Chilwell) - February 13
- Urmston - February 16
