Poundland is closing 18 more of its stores across the UK over the next two months following a series of recent closures. From the start of the month, five stores have already shut their doors for good. Earlier this year, after being acquired by investment firm Gordon Brothers for a “norminal fee” of £1, Poundland announced plans to shut down 68 shops and two warehouses nationwide, putting about 1,300 jobs at risk. Since then, the retailer has closed 57 outlets so far as part of its main downsizing strategy, but 11 closures have been temporarily postponed for the moment.
At the start of this restructuring process, Poundland operated roughly 800 stores across the UK. This number, however, is expected to shrink to between 650 and 700 as leases come to an end or landlords opt to terminate agreements.
Poundland’s retail director, Darren MacDonald, 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.
“These special reductions, on top of the value we offer day-in-day-out across our wider network, will help us leave these locations with pride.
“And when our doors close in these locations, we’ll look forward to welcoming customers to one of the hundreds of Poundland stores we’ll continue to operate right across the UK.”
The stores that are set to close their doors over these two months are currently holding clearance sales, with discounts of up to 40% on a wide range of products, including homewares, groceries, clothing, and health and beauty items.
A Poundland spokesperson said: “Customers will be able to take advantage of significant savings as these stores prepare for closure in the days ahead.
“The reductions of up to 40pc will see items marked down in price until they’re sold and cover all the stock in each store from homewares to groceries and clothing to health and beauty.”
