Major High Street Retailer to Close 12 Stores in 25 Days – Full List
Poundland, the popular budget retailer, is set to close 12 of its stores within the next 25 days as part of a cost-cutting restructuring plan. The first store to shut its doors was located in Nottingham Eastpoint, with the remaining closures scheduled to occur by February 16. The final store on the closure list is situated in Urmston, Greater Manchester.
Overview of Store Closures
The chain has indicated that all closing locations will offer “special” discounts leading up to their final days in operation. This closure is not an isolated incident; since the beginning of the year, Poundland has already closed 11 additional stores.
Impact of Closures
- 12 stores closing within 25 days
- First closure: Nottingham Eastpoint
- Last closure: Urmston, Greater Manchester by February 16
- Previously closed 11 stores since January
Darren MacDonald, Poundland’s UK country manager, expressed understanding of the disappointment these closures bring. He emphasized the retailer’s commitment to providing exceptional value to customers, even as they prepare to leave certain locations.
Poundland’s Financial Challenges
Poundland has endured a difficult year in the retail sector, narrowly avoiding administration last August. A High Court-approved turnaround deal highlighted the chain’s deteriorating financial position, having “significantly deteriorated during the last two years.”
Return to Core Pricing Model
The retailer is also planning to revert to its traditional pricing model, with grocery items priced at £1, £2, and £3. This strategic shift reflects Poundland’s intention to strengthen its market presence while addressing the challenging economic circumstances that have impacted its performance.
