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Poundland to stop paying rent at hundreds of stores in rescue deal

  • Poundland was acquired last week by Gordon Brothers, a US-based investment company, for £1 as part of a turnaround strategy that includes plans to close approximately 100 stores across the country.
  • This sale followed a 6.5% revenue drop to £830 million in the six months to March and sluggish performance earlier this year.
  • The restructuring plan includes halting rent payments at roughly 250 Category C shops and terminating leases at about 70 loss-making stores, pending creditor approval.
  • Several Poundland stores including the Cowes branch on the Isle of Wight, which opened in May 2021, are confirmed or expected to close as part of this turnaround effort.
  • The status of Poundland’s last three stores on the Island, located in Newport, Ryde, and Shanklin, is currently uncertain amid the company’s ongoing restructuring efforts.
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13 Articles

Oxford MailOxford Mail
+3 Reposted by 3 other sources
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Poundland responds to 'speculation' of Oxfordshire store closures

There have been rumours about its 800 stores, following a recent takeover, drawing attention to those in Witney, Abingdon, Didcot, Bicester and…

·Oxford, United Kingdom
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Daily Express broke the news in United Kingdom on Sunday, June 15, 2025.
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