The bargain retailer Poundland could see 200 of its stores close amid reports that it is set to be bought by Polish giant Pepco. In May alone, the discount high street brand is set to lose six stores, and many shut down last year.
Bosses at the company, which first opened in 1900, told investors the board “continues to actively explore separation options for Poundland business with an exit expected by end of FY25.” FY25 is the group’s current financial year, which ends in September.
The cheap and cheerful brand said it suffered “challenges across all categories” and had 18 net store closures in this financial year. The firm’s revenues fell by 6.5% to £830 million for the six months to March, compared with a year earlier.
This comes as 200 Poundland stores could be lost as part of a rescue deal to save the company. The brand is expected to be purchased by Polish giant Pepco, with a deal predicted to be finalised in September.
If stores do close, then jobs across the brand’s portfolio of sites will be lost.
