Poundland has announced the closure plans for an additional 12 stores as part of its restructuring efforts, bringing the total number of identified closures to 52. This is part of a larger plan to shut down 68 stores following Poundland’s acquisition by investment firm Gordon Brothers from Pepco Group in June. Thirteen of the 68 stores have already closed, with ten shutting down on August 10.
In addition to the store closures, Poundland has also disclosed that 15 stores will be closing on August 17, and 12 more will cease operations on August 24. Following these closures, another 12 stores have been earmarked for closure, with 11 closing on August 31 and the last one on September 14. This leaves only 16 stores out of the initial 68 yet to be identified for closure.
Poundland is legally bound to the leases on the closed stores until its restructuring plan is approved by the High Court and creditors, with a hearing scheduled for August 26. The retailer anticipates further closures as leases expire, aiming to reduce its estate from approximately 800 stores to 650-700.
Retail director Darren MacDonald stated that affected staff are undergoing a formal consultation process to explore alternative job opportunities. Employees at the recently confirmed closing stores were briefed on the closures last week.
As part of its restructuring plan, Poundland will remove frozen food from its stores, halt online trading, and retire its Perks loyalty app, launched just last year. Distribution centers in Darton, South Yorkshire, and Bilston, West Midlands, will be closed, with stores supplied from the remaining centers in Wigan and Harlow.
Gordon Brothers has committed to investing £80 million in the turnaround of Poundland after acquiring the company for £1. Following a trading update by Pepco Group, Poundland’s revenue dropped by 10.3% to €347m from April 1 to the sale completion on June 12. Like-for-like sales decreased by 7.1% during the same period, with the number of Poundland stores reducing from 818 to 799.
Three of the 68 stores had already closed before the restructuring announcement on June 17, including locations in Swiss Cottage, Chiswick, and Southampton West Quay. These closures occurred in April 2024, May 2025, and June 2025, respectively.
