Poundland launches huge 75% off sale as 12 stores shut their doors this week
The bargain retailer is preparing to close its branch in the Killingworth Centre in Newcastle this week.
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The store is set to shut this Sunday, August 24, with the chain slashing prices by up to 75%.
The news has come as a blow to locals who said they were "sad" to see the store closure.
But other bargain hunters encouraged shoppers to check out the sale, with many items selling like "hot cakes".
It won't be the only store Poundland shutting this weekend.
Up to 12 sites are set to close and a further 11 stores will shut the following week.
It comes after the beloved British store confirmed it would be shuttering 48 locations this month.
The bargain chain closed 15 stores yesterday as part of the process.
You can check out the full list of impacted stores here.
Closed on August 17:
Bedford
Bidston Moss
Broxburn
Craigavon
Dartmouth
East Dulwich
Falmouth
Hull St Andrews
Newtownabbey
Perth
Poole
Sunderland
Stafford
Thornaby
Worcester
Poundland to be sold for JUST £1 as frontrunner for shock takeover is revealed after wave of store closures
Shutting on August 24:
Brigg
Canterbury
Coventry
Newcastle
Kings Heath
Peterborough
Peterlee
Rainham
Salford
Sheldon
Wells
Whitechapel
Shutting on August 31:
Blackburn
Cookstown
Erdington
Kimberley Kimberley Shopping Centre, Nottingham
Horsham
Hull Holderness
Kettering
Omagh
Shepherds Bush
Southport
Taunton
As it stands, Poundland operates 800 stores nationwide, but the company hopes to significantly reduce this number to between 650 and 700.
This includes the 68 stores closing as part of the restructuring, as well as additional stores shutting when leases expire and are not renewed.
These restructuring plans were outlined in June by the investment firm Gordon Brothers.
This came after the company was sold to the firm that month as part of a deal that included major restructuring and an £80million cash injection.
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.
Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April.
A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024.
Three-quarters of companies cited the cost of employing people as their primary financial pressure.
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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