Poundland has undergone a significant business restructuring, resulting in the closure of numerous stores following its acquisition by an investment firm for a nominal fee. The retailer, which previously operated 800 branches, anticipates reducing its store count to approximately 650-700 due to closures and lease expirations.
The closure process is ongoing, with 23 stores set to shut across various locations like Burnley, Leicester, and Glasgow, offering closing down sales with discounts of up to 40%. Despite initial plans to close its Livingston store on October 12, Poundland has renegotiated terms with the landlord, allowing the store to remain open.
Additionally, Poundland has reversed its decision to close 11 out of the initially planned 68 stores. The company is introducing a simplified pricing structure of £1, £2, and £3 across its UK stores, with approximately 60% of groceries priced at £1, 20% at £2, and the remaining 20% at £3. Notably, Poundland’s website now solely serves as a product catalog, with no online purchasing option available.
Furthermore, Poundland has discontinued its loyalty app, Poundland Perks, while honoring existing vouchers until January 15, 2026. Retail director Darren MacDonald expressed gratitude towards customers in closing stores and emphasized the continued operation of hundreds of Poundland stores nationwide.
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