US Edition
Poundland Closing 25 Stores - Full List of Affected UK Shops - Liverpool Echo
UNITED KINGDOM, JUL 18 – Poundland plans to reduce its UK stores from about 800 to 650-700 to improve financial sustainability after a 6.5% revenue drop, risking over 1,300 jobs, officials said.
- Ahead of mid-month cuts, Poundland kicks off its first tranche of closures, with ten stores on August 10 and fifteen on August 17 as part of plans to close 68 outlets.
- After reporting a revenue slump, the chain led to a sale to Gordon Brothers for £1, prompting a strategy to refocus.
- This week, Poundland data shows over 1,300 jobs at risk, with staff briefed this week on first 25 store closures and network to shrink to about 650–700 stores from 800.
- Retail director Darren MacDonald said, `It is of course, sincerely regrettable that our recovery plans include any store closures, but sadly that's necessary to secure thousands of jobs,` and confirmed consultations are ongoing for affected staff.
- Subject to court approval, Poundland's Whitby store will close on September 3, while restructuring details are pending High Court approval in August.
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Leaning Left4Leaning Right4Center29Last UpdatedBias Distribution78% Center
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C 78%
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