US EditionPoundland to Close 15 More Stores This Weekend After Town Shop Shut
Poundland plans to cut from around 800 stores to 650-700 after a £80 million investment by Gordon Brothers amid challenging trading conditions.
- Poundland plans to shut down an additional 15 locations throughout the UK by the end of this weekend, following the recent closure of 10 stores on August 10.
- The closures follow Pepco Group's June sale of Poundland to US firm Gordon Brothers amid declining sales and rising costs.
- Poundland operates about 800 stores but plans to reduce to 650-700 outlets, with ongoing formal consultations exploring alternative roles for affected staff.
- Retail director Darren MacDonald expressed that although the planned size of their store network, estimated between 650 and 700 locations, remains substantial, it is deeply unfortunate that they must close several outlets to help refocus the business.
- These closures and cost-cutting measures, including shutting distribution centres and ending online sales, aim to stabilize Poundland’s business amid difficult trading conditions.
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