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Poundland confirms 49 store closures
Poundland will close 49 stores as Gordon Brothers restructures the business and plans to reduce the network to about 650‑700 locations
Poundland is shutting almost 50 stores as Gordon Brothers restructures the chain after a low‑cost sale.
Poundland to close 49 stores as restructuring cuts run deeper
Poundland has confirmed it will close 49 stores across the UK, with ten shutting for good today. The move follows the sale of Poundland by Pepco Group to Gordon Brothers for a nominal £1. The new owner says it will inject up to £80 million to restructure the business and aims to shrink the network to about 650‑700 stores. Eighty percent of the planned closures are expected by mid‑October, with more dates and locations announced later.
Some closures have already happened, including Swiss Cottage in London, Chiswick and Southampton West Quay. Gordon Brothers also plans to renegotiate rents at some sites and to stop online sales while shifting focus to womenswear and seasonal items. The company will shut its frozen distribution centre in Darton and a separate centre in Bilston by early 2026, a move that will reduce chilled goods and alter stock in many stores. Poundland reported a 6.5% revenue drop to £830 million for the six months to March, blamed on difficult trading conditions across categories. The plan remains subject to High Court approval."
Key Takeaways
"We entirely understand how disappointing it will be for customers when a store nearby closes"
Darren MacDonald comments on customer impact
"Work is underway to with colleagues through a formal consultation process in stores scheduled to close"
Staff consultation process noted by company
"The closure of 68 branches outright will be followed by additional shutdowns when leases expire"
Outline of scale and timing of closures
The mass store closures show a retailer retooling for a tougher market. Poundland is trading fewer stores but promising a still sizable footprint that can adapt to rent pressure and reduced costs. The shift away from online sales is notable in a market that increasingly blends digital and physical shopping. The plan places emphasis on selecting locations with better footfall and renegotiating rents to protect remaining outlets. This is as towns rethink the role of discount chains on local high streets.
Critics may worry about job losses and the impact on town centres, but supporters could see a leaner Poundland as a way to preserve a price‑led option for consumers. The outcome will depend on how well the remaining network can compete with rivals and how quickly it can change product lines to meet changing demand.
Highlights
- This is about saving a business not saving every corner of the high street
- Store closures ripple through towns more than headlines show
- Reshaping a price aware retailer for a tougher future
Financial restructuring poses local and investor risks
Poundland’s broad store closures and the shift in operations reflect a high‑cost restructuring that affects workers, suppliers, landlords, and local communities. The plan relies on court approval and rent renegotiations, creating potential backlash if costs pass to tenants or if closures hit town centres hard.
The next chapters will reveal whether Poundland can regain stability on Britain’s high streets.
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