Poundland to close 15 UK stores this week - full list

1 year ago 45

Poundland is set to shut a number of stores across the UK this week. The budget retailer has confirmed that 49 sites will shut throughout August and September.

The upcoming closures will come after 10 Poundland stores closed last Sunday (August 10). A further 15 will shut for good on Sunday (August 17) before 12 more close on August 24 and 11 shut on August 31. A further store will then close on September 14. Closing down sales are now underway in the remaining stores with some items, including pet products, toys and toiletries, available for just 50p.

As reported by The Sun, the wave of closures comes after the Pepco Group sold Poundland to US investment company Gordon Brothers for just £1 in June. Restructuring plans have since been introduced with Gordon Brothers set to invest £80 million to help the struggling retailer.

Like other businesses across the UK, Poundland has been hit by declining sales and rising expenses over recent times. They have apologised to their customers for the impact of the store closures.

Poundland currently operated around 800 stores across the UK. However, it plans to eventually drop this number to between 650 and 700.

Darren MacDonald, retail director at Poundland, said: "While our anticipated network of around 650-700 stores remains sizeable, it is of course, sincerely regrettable that we're closing a number of stores to allow us to get us back on track.

"We entirely understand how disappointing it will be for customers when a store nearby closes, but we look forward to continuing to welcome them to one of our other locations.

"Work is underway to with colleagues through a formal consultation process in stores scheduled to close, exploring any suitable alternative roles."