Poundland, following its acquisition by an investment firm for £1, has embarked on a significant restructuring that has led to the closure of multiple stores in recent weeks. The budget retailer, which previously operated 800 branches, is now anticipating a reduction to approximately 650 to 700 stores through a combination of shuttering locations and the expiration of leases.
The chain’s closures are ongoing into the fall season, with 23 stores set to shut down and hosting closing down sales offering discounts of up to 40%. Among the affected areas are Burnley, Leicester, and Glasgow. Notably, Poundland’s Livingston store, initially scheduled to close on October 12, will now remain open following negotiations with the landlord. The store will temporarily cease operations on October 4 for restocking and resume business on October 13.
Poundland had previously announced the closure of 68 stores after its acquisition. However, a recent update revealed that 11 of these closures have been postponed. This decision coincides with the introduction of a new pricing structure in Poundland’s UK stores, simplifying pricing to £1, £2, and £3 tiers for various products.
Under the revised pricing regime, approximately 60% of grocery items will be priced at £1, with 20% at £2 and 20% at £3. Poundland has also revamped its website to offer browsing only, discontinuing online purchasing. Additionally, the retailer has discontinued its loyalty app, Poundland Perks, but existing vouchers can be redeemed until January 15, 2026.
Darren MacDonald, Poundland’s retail director, expressed determination to offer customers exceptional value before the final closures of affected stores, emphasizing the brand’s commitment to providing quality products at affordable prices. Poundland looks forward to continuing operations in numerous stores across the UK even as some locations face closure.