Poundland has put plans to close 11 stores in a restructure of the business ‘on hold’.
The 11 were among 68 stores set to close in a restructure plan announced in June, following Poundland’s sale by Pepco Group to investment firm Gordon Brothers. Fifty-seven of them have closed so far or remain set to close.
Poundland’s decision to continue trading in the other 11 follows a vote by creditors including landlords on the restructure plan in August.
One of the 11, in Rivergate Shopping Centre in Irvine, closed on 14 September but has now re-opened after restocking.
Stores on Brighton’s London Road and Anniesland’s Great Western Road are also among the 11 that were set to close but will now continue trading.
A separate decision to close a store coming to the end of its lease in Whitby has been reversed after negotiations with the landlord.
Poundland said there was no change to an overall expectation that its estate would shrink from about 800 to between 650 and 700 stores as more leases expired.
“We’re determined to deliver a simpler, more focused Poundland that keeps its promise of amazing value to customers,” said Poundland MD Barry Williams.
“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.”
As revealed by The Grocer last month, Poundland is going back to pound shop basics in a bid to win back shoppers, with a £1-£2-£3 pricing strategy in grocery.
The variety discounter has now completed the rollout of the pricing structure to categories including snacking, ambient drinks, pet food, household, confectionery and health and beauty. Chocolate, biscuits and cakes are due to follow by the end of the month.
Also by the end of the month, around 60% of grocery items will be at £1, according to Poundland.
In the coming months it will “extend its new pricing simplicity to its general merchandise and clothing ranges, offering fewer price points and more focused ranges that customers can more easily see the value offered”.
As previously announced, Poundland is also halting online sales and retiring its Perks loyalty app from today. Customers who have vouchers in the Perks app can still redeem them in store until 15 January 2026.
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