It was on the brink of administration in summer
After nearly 150 stores have been closed and 2,200 staff axed, Poundland still has “much to do” to turn its fortunes around, the retailer’s boss said.
Poundland also closed two of its four UK warehouses, in Darton, South Yorkshire, and Springvale in Bilston in the West Midlands as part of the restructuring plan.
The major overhaul of the discount retailer went ahead after the green light from the High Court last year to shrink its store portfolio to 651 from 800.
And its cost-cutting initiatives are now complete, the chain announced on Friday.
“Any future closures will be a consequence of standard business-as-usual lease events expected at a retailer with a large store network”, it said in a statement.
The group was on the brink of administration in August, but it received approval to carry out a major restructuring of the business amid warnings it was running out of cash.
The chain has also reverted to a simpler price structure, with 60 per cent of grocery goods now £1, and the rest either £2 or £3.
Its managing director, Barry Williams said: “While there’s been significant progress as we refocus and re-energise the business with lower prices and a sharper offer, we know we still have much to do”, its managing director Barry Williams said.
“Our focus on our costs has, without doubt, given us a platform for future growth, but no sustainable turnaround can be based on cost management alone”, he added.
Poundland is relaunching its in-house line Pep&Co clothing from next week, with 90 per cent of items set to be priced at £10 or less.
Poundland isn’t the only brand to have slashed its high street presence, as a number of notable retailers have already confirmed closures for 2026.
The full list of Poundland stores which have already or are yet to close
The following nine Poundland stores are the last to close as part of the restructuring plans:
Bristol Avon Meads
Gosport
Winton
Chichester
Coatbridge
Feltham
Crayford
Nottingham, Chilwell
Urmston
Twickenham
Westhoughton
Market Harborough
Lowestoft
Colne
Rochdale
Leicester
Tenby
Blackpool – Cherry Tree Retail Park
Deal
Thurrock
Walsall
Hailsham
Perry Barr
Matlock
Carlisle
Burnley
Witham
Sidcup
Dalston
Beeston
Launceston
Melton Mowbray
Droitwich
Hempstead Valley
Bexhill
Cameron Toll
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