Full list of 15 Poundland stores shutting THIS WEEK as giant clearance sales launched – is one going near you?
The budget retailer has confirmed the locations of 48 store closures this month, with more planned for September.
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This Sunday will see 15 locations pulling down the shutters for the final time with massive closing sales well underway and items available from just 50p.
The closures come as Polish owner Pepco Group sold Poundland to US investment firm Gordon Brothers for £1 after a downturn in trading.
Major restructuring plans have followed which include the closure of a whopping 68 stores by mid-October.
It comes after 10 stores already closed on August 10 with a huge stock selloff on gear including toiletries, kids' toys and pet products.
Another 12 are set to shut on August 24, with 11 more closing on August 31.
The last store in this group will close on September 14 at the Rivergate Shopping Centre in Irvine.
After these closures, 16 additional stores are still set to shut, but their locations and closing dates have yet to be confirmed.
Darren MacDonald, retail director at Poundland, said: "While our anticipated network of around 650-700 stores remains sizeable, it is of course, sincerely regrettable that we're closing a number of stores to allow us to get us back on track.
"We entirely understand how disappointing it will be for customers when a store nearby closes, but we look forward to continuing to welcome them to one of our other locations.
"Work is underway to with colleagues through a formal consultation process in stores scheduled to close, exploring any suitable alternative roles."
Poundland to be sold for JUST £1 as frontrunner for shock takeover is revealed after wave of store closures
Which stores are closing?
The following Poundland stores will permanently close on August 17:
Bedford
Bidston Moss
Broxburn
Craigavon
Dartmouth
East Dulwich
Falmouth
Hull St Andrews
Newtonabbey
Perth
Poole
Sunderland
Stafford
Thornaby
Worcester
On August 24, additional closures will take place at these locations:
Brigg
Canterbury
Coventry
Newcastle
Kings Heath
Peterborough
Peterlee
Rainham
Salford
Sheldon
Wells
Whitechapel
Finally, on August 31, the following stores will also close:
Blackburn
Cookstown
Erdington
Kimberley Kimberley Shopping Centre, Nottingham
Horsham
Hull Holderness
Kettering
Omagh
Shepherds Bush
Southport
Taunton
Poundland operates around 800 stores across the UK but plans to reduce this number to between 650 and 700 over time.
This includes the 68 stores closing as part of the restructuring, as well as additional stores shutting when leases expire and are not renewed.
What's happened to Poundland?
Poundland was sold in June to investment firm Gordon Brothers as part of a deal that included a major restructuring and an £80million cash injection.
Later that month, Gordon Brothers outlined its plans, which included closing 68 stores and negotiating rent reductions at several other locations.
The investment firm also announced additional plans, such as closing its frozen and digital distribution centre in Darton, South Yorkshire, later this year, removing frozen products from stores, reducing the range of chilled food items, and shutting its national distribution centre in Bilston, West Midlands, by early 2026.
Poundland will also stop selling products online and focus on expanding its womenswear and seasonal ranges.
These changes, except for the 49 store closures, are still subject to High Court approval later this month.
Poundland was put up for auction in March by its previous owner, Pepco, after the brand experienced weak sales.
The Polish company reported a 6.5% decline in Poundland's revenue, dropping to £830million for the six months to March compared to the previous year.
Pepco cited "highly challenging trading conditions" for the drop, with Poundland facing struggles across all product categories and experiencing 18 net store closures during that period.
RETAIL PAIN IN 2025
The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion.
The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year.
It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year.
Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025."
Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector.
"By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
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