Poundland has announced a third wave of store closures, with 37 branches set to shut in August as part of the discount retailer's restructuring efforts. The latest closures come after the company was sold for just £1 in a bid to save it from financial difficulties.
The closures are part of a wider plan that will see a total of 68 stores cease operations. Previously, the retailer had confirmed the closure of 10 stores on August 10 and an additional 15 on August 15. A further 12 Poundland stores are scheduled to close their doors on August 24 at various locations throughout the UK.
Already, three stores have been shuttered: Swiss Cottage in April 2024, Chiswick and Southampton West Quay in May and June respectively. The remaining stores are expected to gradually close until mid-October.
Darren MacDonald, Poundland's retail director, commented: "It is of course, sincerely regrettable that our recovery plans include any store closures, but sadly that's necessary if we're to achieve our goal of securing the future of thousands of jobs and hundreds of stores." He added that the company will work closely with colleagues through a formal consultation process and explore suitable alternative roles.
