"Poundland has closed 149 stores and cut 2,200 jobs as part of a sweeping turnaround plan aimed at stabilising the business after a period of heavy losses and declining sales. The discount retailer said the closures mark the final phase of a restructuring programme launched last year, following a collapse into the red that was blamed on weak trading conditions and an unpopular overhaul of its clothing ranges."
"The closures form part of a wider shake-up first announced last June after Poundland posted a £51 million pre-tax loss in 2024. Alongside store closures, the plan included rent reductions, the closure of distribution centres, the end of online sales, the scrapping of its Perks loyalty app and the withdrawal from frozen and most chilled food categories. Poundland confirmed that its frozen and digital distribution centre in Darton, South Yorkshire, and its national distribution centre at Springvale in Bilston, West Midlands, have now closed."
Poundland closed 149 stores and cut 2,200 jobs as part of a restructuring intended to stabilise the business after heavy losses and falling sales. The business was bought for £1 by Gordon Brothers, which pledged up to £80 million to support a reset. The retailer refocused on its core proposition, with around 60% of the range priced at £1, and is relaunching the Pep & Co clothing label. The plan included rent reductions, distribution centre closures, ending online sales, scrapping the Perks app and withdrawing from frozen and most chilled categories. Underlying profits more than doubled to £17.3 million in the three months to 28 December; items sold rose 2% while like-for-like sales at established stores fell 2.9%.
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