Poundland has announced the forthcoming closure of an additional 12 stores as part of its restructuring initiative, bringing the total number of identified closures to 52. These closures are part of a larger plan that includes shutting down 68 stores after Poundland was acquired by investment firm Gordon Brothers from Pepco Group in June. Thirteen of the 68 stores have already ceased operations, with 10 closing on August 10.
Additionally, Poundland has disclosed the locations of 15 stores set to close on August 17 and 12 more set to shut down on August 24. Following these closures, the retailer has identified another 12 stores that will be closing soon. The remaining 16 out of the 68 stores scheduled for closure have yet to be disclosed.
Poundland is obligated to maintain leases on the closing stores until the restructuring plan receives approval from the High Court and creditors, with a hearing scheduled for August 26. The company anticipates further closures as leases expire, aiming to reduce its estate from around 800 stores to 650-700. Poundland’s Retail Director, Darren MacDonald, expressed regret for the store closures but looks forward to welcoming customers at other Poundland locations.
As part of the restructuring, Poundland will also eliminate frozen food offerings in its stores, halt online trading, and retire its Perks loyalty app. Distribution centers in Darton, South Yorkshire, and Springvale in Bilston, West Midlands, are set to close, with stores being supplied from two remaining centers in Wigan and Harlow.
Gordon Brothers has committed to investing £80 million in the turnaround of Poundland. The parent company, Pepco Group, reported a 10.3% decline in Poundland’s revenue to €347m between April 1 and the completion of the sale on June 12. During the same period, like-for-like sales dropped by 7.1%, and the number of Poundland stores decreased from 818 to 799.
Interestingly, three of the 68 stores had closed before Poundland announced its restructuring plan on June 17. These included stores in Swiss Cottage (closed April 20, 2024), Chiswick (closed May 28, 2025), and Southampton West Quay (closed June 9, 2025).
The restructuring plan is progressing, with Poundland navigating through store closures and operational changes to streamline its business operations and enhance efficiency.