Closing down clearance sales are taking place in these stores with up to 40 per cent off
Poundland has revealed plans for another round of store closures this winter. This means the budget retailer will have closed more than 100 shops in the UK by early next year, following a restructuring decision.
Today (Friday, December 5) Poundland announced an additional 14 stores will be shut by early February, on top of the 18 that are still due to close in the coming months. These shops have launched clearance sales, offering up to 40 per cent off on items ranging from homeware and groceries to clothing and beauty products.
Poundland had previously announced the closure of another 40 shops that were clearing out stock. This occurred at locations where the retail property’s landlord had chosen to terminate the lease, resulting in the store’s closure.
This is in addition to the 57 stores that had already been closed by the end of September, as Poundland targeted its least profitable shops. The company anticipates that the UK chain will have shrunk from around 800 shops at the start of the restructuring programme, to between 650 and 700 once the process is complete.
Darren MacDonald, Poundland’s UK country manager, 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.”
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 was sold for a mere £1 to investment firm Gordon Brothers in June. The company managed to avoid administration after a restructuring plan was approved by the High Court in August, just days before it was due to run out of funds.
Since then, recovery efforts have centred on simplifying the business, which includes not only reducing the number of stores but also overhauling its pricing structure. The retailer is reverting to a straightforward £1, £2 and £3 grocery pricing across all its UK shops – with approximately 60 per cent of grocery items priced at £1. This simple pricing is also being implemented across general merchandise and clothing ranges.
List of latest Poundland closures announced with dates
Lancaster, Lancashire – Closing on December 19
Northampton Sixfields, Northamptonshire – December 31
Weston-Super-Mare, Somerset – December 24
Hammersmith, Greater London – December 24
Prestatyn, Denbighshire – December 31
Faversham, Kent – January 6
Liverpool, Merseyside – January 15
Yeovil, Somerset – January 16
Nottingham Eastpoint, Nottinghamshire – January 22
Lymington, Hampshire – January 23
Christchurch (47 High Street), Dorset – January 23
Bristol Avon Meads, Bristol – January 29
Winton, Dorset – February 6
Coatbridge, North Lanarkshire, Scotland – February 8
Stores previously announced as closing with dates
Christchurch (Meteor Retail Park), Dorset – Closing on December 5
Arnold, Nottinghamshire – December 6
Worthing, West Sussex – December 6
Droitwich, Worcestershire – December 9
Ballymena, County Antrim, Northern Ireland – December 13
Oldham, Greater Manchester – December 13
Weston Favell, Northamptonshire – December 19
Portishead, Somerset – December 24
Grantham, Lincolnshire – December 24
Portadown, County Armagh, Northern Ireland – December 31
Farnham, Surrey – December 31
Brighton, East Sussex – December 31
Hempstead Valley, Kent – December 31
Bexhill, East Sussex – January 5
Ponders End, Greater London – January 5
Kilmarnock, East Ayrshire, Scotland – January 5
Mitcham, Greater London – January 14
Cameron Toll, Edinburgh, Scotland – January 20
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