Poundland confirms which shops will close in December
Poundland has confirmed a number of shops will be closing before the end of the year and named the locations.
Poundland has confirmed a number of shops will be closing before the end of the year and named the locations.
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The budget retailer has already closed 30 odd branches since October, after the chain was sold for £1 to US investment firm Gordon Brothers in June.
A takeover was confirmed just in time from previous owners Pepco, with Poundland set to run out of money.
Barry Williams, managing director, said: “It’s no secret that we have much work to do to get Poundland back on track.
“While Poundland remains a strong brand, serving 20 million-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.”
The chain has already shrunk from around 800 shops and more closures of poorer performing outlets could follow, with Gordon Brothers stating they want to get the number down to 650.
At their takeover, the firm said it had plans to close 68 shops.
Pepco Group, the previous owners, said it saw a drop in revenue of more than £57 million last year.
Which Poundland shops will be closing?
Poundland said this week that the next three shops to close will be:
- Melton Mowbray — Closing December 4
- Droitwich — Closing December 9
- Hempstead Valley — Closing December 31
According to the Standard, the closing retailers will hold clearance sales and will give shoppers discounts of up to 40 per cent.