Poundland pauses closure of 11 stores as turnaround gathers pace
Poundland has put plans to close 11 stores ‘on hold’ as part of its ongoing restructure, following its sale by Pepco Group to Gordon Brothers earlier this year.
The discount chain had announced in June that 68 stores were set to shut, with 57 having either closed already or remaining due to close.
But after a creditor vote in August, Poundland confirmed that 11 sites, including Brighton’s London Road and Anniesland’s Great Western Road, will continue trading, according to The Grocer.
It is understood that one of the stores, in Rivergate Shopping Centre in Irvine, closed on 14 September but has since reopened after restocking, while a separate decision to shutter Poundland’s Whitby branch has also been reversed following fresh talks with the landlord.
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Despite the reprieve, Poundland said it still expected its estate to shrink from about 800 shops to between 650 and 700 as more leases expired.
“We’re determined to deliver a simpler, more focused Poundland that keeps its promise of amazing value to customers,” MD Barry Williams told the publication.
“We appreciate the support we’ve had from suppliers, landlords and other partners who’ve now all been fully briefed on
our plans to get us back on track.
“While there is much work to do, I’m confident that a Poundland focused on the simple value our customers expect, has
a bright future.”
The update comes as Poundland doubles down on a return to its pound-shop roots, with a £1-£2-£3 pricing strategy now rolled out across snacking, ambient drinks, pet food, household, confectionery and health & beauty. Chocolate, biscuits and cakes will follow by the end of September, by which point around 60% of grocery items will be priced at £1.
6 Comments. Leave new
People keeps referring ‘ Poundland, everything has to be a pound’
What about Iceland, are you all expecting to find everything frozen in ice, and maybe couple penguins too….You all still buying in there washing powder, bleach, bread and carrots and cereal. Are you all complaining at the checkouts ‘ why this is not frozen? it says Iceland ‘
People wake up.
They can’t sale at £1 in they can’t buy all stock in under £1 can they?, Poundland would definitely go under if they sale everything for £1, 60% is enough at £1
It’s Poundland.
The clue is in the name, customers want to see 100% of stock at £1
Does inflation for the business of Poundland not exist then, think about it, long term, it can’t be done!
They can’t sale at £1 in they can’t buy all stock in under £1 van they?, Poundland would definitely go under if they sale everything for £1, 60% is enough at £1
They can’t sale at £1 if they can’t buy all stock in under £1 can they?, Poundland would definitely go under if they sale everything for £1, 60% is enough at £1