A MAJOR retail giant is shutting down twelve more of its stores this month, in yet another hammer blow to Britain’s high streets.
The discount giant, famous for its cut-price deals and “everything for a quid” shelves, is tightening its belt as it battles to stay afloat.
Poundland is currently undergoing a massive restructuring, which includes the closing of 68 stores, twelve of which are closing this month.
It’s been a grim year for the nation’s retailers, with shuttered windows and empty shops becoming an all-too-familiar sight up and down the country.
And now even one of Britain’s best-known budget brands is feeling the squeeze.
The high street giant, which employs 14,700 staff, has come under financial pressure in recent years.
Major shake-up
Its new owner, Gordon Brothers, who ironically bought the chain for £1 in June, revealed plans to invest £90million to rescue the business.
Poundland’s rescue plan involved the closure of 68 stores, cutting 1,000 jobs and shutting two warehouses, which will impact 350 workers.
The restructure also includes rent cuts at up to 180 stores and the closure of its frozen food and website.
Among the 11 stores originally earmarked for closure but will remain open are Irvine’s Rivergate Centre, Brighton (London Road), Anniesland (Great Western Road) and Whitby.
Poundland stores closing this month
Twickenham – closing October 5 Westhoughton – closing October 5 Market Harborough – closing October 9 Porthcawl – closing October 10 Lowestoft – closing October 10 Colne – closing October 11 Musselburgh – closing October 12 Livingston – closing October 12 Rochdale – closing October 13 Leicester – closing October 17 Tenby – closing October 18 Walsall – closing October 29Other changes at Poundland
And customers will also notice changes within the bargain retailer’s stores.
Shoppers can no longer use the Poundland website to buy products.
Meanwhile, its loyalty scheme, Poundland Perks, has been axed.
Poundland Perks customers have until January 15, 2026, to use their reward vouchers.
The chain will also close its frozen and digital distribution centre in Darton, South Yorkshire, later this year.
It also plans to shut its Bilston national distribution centre in early 2026.
The bargain chain also launched huge clearance sales in several stores, with some offering deals of up to 90% off.
The news comes as Poundland is going back to basics, and has increased the number of products it sells for £1 in store.
As part of the shake up, the discounter has rolled out £1, £2 and £3 grocery pricing across all its stores last month.
The number of grocery items sold for £1 has increased to 60%.
A further 20% of the goods now cost £2 and another 20% cost £3.
RETAIL PAIN IN 2025
The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion.
Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April.
A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024.
Three-quarters of companies cited the cost of employing people as their primary financial pressure.
The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year.
It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year.
Professor Joshua Bamfield, director of the CRR said: “The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025.”
Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector.
“By increasing both the costs of running stores and the costs on each consumer’s household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020.”
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