More than 20 Glasgow Poundland stores at risk of closure
Retail advisory firm Teneo is overseeing the sale process after Poundland's parent company, Pepco Group, confirmed it is reviewing "all strategic options" for the brand.
The announcement follows earlier reports in March that the company was seeking potential buyers.
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Poundland currently operates around 825 stores and employs over 160,000 people.
With bids for the chain expected to come in this week, the future of many stores, including those in key Glasgow locations, is hanging in the balance.
Among the local stores potentially affected are branches on Argyle Street, Sauchiehall Street, Crown Street, Dumbarton Road, and the Fort Shopping Centre, among others.
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Pepco Group is also due to release its half-year financial results on Thursday, May 22, which could shed more light on the retailer's outlook.
Once famous for its strict £1 pricing model, Poundland has gradually expanded into multi-price ranges to combat rising costs and growing competition from supermarkets and rival high street retailers.
The uncertainty adds to growing concerns over the future of the UK's high street, with shoppers and staff alike bracing for what could be another major retail shake-up.
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Full list of the Poundlands at risk:
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Scottish Sun
13 hours ago
- Scottish Sun
Poundland to shut ANOTHER branch as the exact closure date is revealed – with 200 more at risk
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) POUNDLAND is set to shut another one of its branches for good, with a staggering 200 more stores at risk. Shoppers on Bank Street, Newquay, will be devastated to hear that the popular high street shop will close for good on August 1. Sign up for Scottish Sun newsletter Sign up 1 Poundland's branch on Bank Street, Newquay, will close for good on August 1 Credit: Getty Locals have launched a petition to save the store after Poundland issued redundancy notices to staff. Sharon Gill, who launched the petition, wrote: "Many residents count on Poundland for their everyday needs. "The reality for most of us is that we don't have the luxury of a car to travel to nearby towns. "The nearest alternatives in St Austell or Truro are inconveniently far away, and public transport means hours of commute for essentials that should be easily accessible." The petition has gathered 60 signatures so far, but a spokesperson for the bargain chain confirmed the store will be closing after failing to reach terms that could have kept it open. The spokesperson for Poundland added: "It's correct our Newquay store is sadly set to close on 1 August as we've been unable to agree terms that would allow us to keep trading there. "We'd obviously like to thank customers for their continued support over the next couple of months. "It goes without saying whenever we close a store in circumstances like these, we do all we can to look for other opportunities for colleagues and that work is now underway." Poundland also announced it will aid its staff in finding opportunities at nearby stores. It comes after it was reported that up to 200 stores could close as part of Poundland's rescue deal. Walkthrough Poundland's first £1million store Bidding for the business started last week. A source told The Sunday Times that Poundland would be priced at "effectively a pound". Gordon Brothers, the ex-owner of Laura Ashley, and Homebase owner Hilco are reported to be in a two way race to win the chain. A decision on who the preferred bidder is could be announced in the coming days. Polish retail giant Pepco said it expects the sale of Poundland to complete by September. These closures come on top of seven more stores which have been flagged for closure this month. Bosses at Poundland have already called time in a branch in Clapham Junction Station and Copdock Mill Interchange Ipswich. A popular branch in Belle Vale Shopping Centre, Liverpool also closed on May 6. This comes on top of a closure in Brackla Wales which is due to take place on May 24. A few months back, Poundland was forced to close a branch in Belfast after the Connswater Shopping Centre was put into receivership. A branch in Bermondsey, London also closed on May 14. You can see the full list of closures below: St George's Centre, Gravesend – closed last week – closed last week Connswater Shopping Centre, Belfast – closed end of March 2024 – closed end of March 2024 Brackla, Wales – closed May 24 2024 – closed May 24 2024 Macclesfield – closed August 2024 – closed August 2024 Maidenhead – closed October 2024 – closed October 2024 Sutton Coldfield – closed early October 2024 – closed early October 2024 Clapham Junction Station, London – closed May 2 2025 – closed May 2 2025 Belle Vale Shopping Centre, Liverpool – closed May 6 2025 – closed May 6 2025 Southwark Park Road – closed May 14 2025 – closed May 14 2025 Copdock Mill Interchange, Ipswich – closed May 2025 – closed May 2025 Chiswick High Road – closing May 28 2025 – closing May 28 2025 Filton Abbeywood – closing May 31 2025 – closing May 31 2025 Surrey Quays – closing June 11 2025 – closing June 11 2025 Cowes, Isle of Wight – July 2025 (exact date tbc) – July 2025 (exact date tbc) Bank Street, Newquay - Aughts 1 2025 WHAT IS GOING ON AT POUNDLAND Last month, its parent company, Pepco, is said to have hired advisory firm Teneo to oversee the sale of the UK business. It comes after Pepco said it was looking at "all strategic options" to separate Poundland from its brand. The Polish group said it might turn its focus to its more profitable businesses in Europe. Pepco previously warned that upcoming hikes to employer National Insurance Contributions (NICs) and national minimum wage would significantly add to its costs. Late last year, it was revealed that profits at Poundland also tumbled by £641million in the year to September, with bosses again blaming slow sales amid a poor outlook thanks to measures set out by Reeves. A spokesperson also said the huge loss was "due to a non-cash impairment at Poundland that relates to the acquisition of the UK chain in 2016".
The Sun
13 hours ago
- The Sun
Poundland to shut ANOTHER branch as the exact closure date is revealed – with 200 more at risk
POUNDLAND is set to shut another one of its branches for good, with a staggering 200 more stores at risk. Shoppers on Bank Street, Newquay, will be devastated to hear that the popular high street shop will close for good on August 1. Locals have launched a petition to save the store after Poundland issued redundancy notices to staff. Sharon Gill, who launched the petition, wrote: "Many residents count on Poundland for their everyday needs. "The reality for most of us is that we don't have the luxury of a car to travel to nearby towns. "The nearest alternatives in St Austell or Truro are inconveniently far away, and public transport means hours of commute for essentials that should be easily accessible." The petition has gathered 60 signatures so far, but a spokesperson for the bargain chain confirmed the store will be closing after failing to reach terms that could have kept it open. The spokesperson for Poundland added: "It's correct our Newquay store is sadly set to close on 1 August as we've been unable to agree terms that would allow us to keep trading there. "We'd obviously like to thank customers for their continued support over the next couple of months. "It goes without saying whenever we close a store in circumstances like these, we do all we can to look for other opportunities for colleagues and that work is now underway." Poundland also announced it will aid its staff in finding opportunities at nearby stores. It comes after it was reported that up to 200 stores could close as part of Poundland's rescue deal. Walkthrough Poundland's first £1million store Bidding for the business started last week. A source told The Sunday Times that Poundland would be priced at "effectively a pound". Gordon Brothers, the ex-owner of Laura Ashley, and Homebase owner Hilco are reported to be in a two way race to win the chain. A decision on who the preferred bidder is could be announced in the coming days. Polish retail giant Pepco said it expects the sale of Poundland to complete by September. These closures come on top of seven more stores which have been flagged for closure this month. Bosses at Poundland have already called time in a branch in Clapham Junction Station and Copdock Mill Interchange Ipswich. A popular branch in Belle Vale Shopping Centre, Liverpool also closed on May 6. This comes on top of a closure in Brackla Wales which is due to take place on May 24. A few months back, Poundland was forced to close a branch in Belfast after the Connswater Shopping Centre was put into receivership. A branch in Bermondsey, London also closed on May 14. You can see the full list of closures below: St George's Centre, Gravesend – closed last week Connswater Shopping Centre, Belfast – closed end of March 2024 Brackla, Wales – closed May 24 2024 Macclesfield – closed August 2024 Maidenhead – closed October 2024 Sutton Coldfield – closed early October 2024 Clapham Junction Station, London – closed May 2 2025 Belle Vale Shopping Centre, Liverpool – closed May 6 2025 Southwark Park Road – closed May 14 2025 Copdock Mill Interchange, Ipswich – closed May 2025 Chiswick High Road – closing May 28 2025 Filton Abbeywood – closing May 31 2025 Surrey Quays – closing June 11 2025 Cowes, Isle of Wight – July 2025 (exact date tbc) Bank Street, Newquay - Aughts 1 2025 WHAT IS GOING ON AT POUNDLAND Last month, its parent company, Pepco, is said to have hired advisory firm Teneo to oversee the sale of the UK business. It comes after Pepco said it was looking at"all strategic options" to separate Poundland from its brand. The Polish group said it might turn its focus to its more profitable businesses in Europe. Pepco previously warned that upcoming hikes to employer National Insurance Contributions (NICs) and national minimum wage would significantly add to its costs. Late last year, it was revealed that profits at Poundland also tumbled by £641million in the year to September, with bosses again blaming slow sales amid a poor outlook thanks to measures set out by Reeves. A spokesperson also said the huge loss was "due to a non-cash impairment at Poundland that relates to the acquisition of the UK chain in 2016". 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."
BBC News
2 days ago
- BBC News
No domestic bliss for ongoing Welsh rugby soap opera
So there we have it. Scarlets' defeat by Leinster in the United Rugby Championship (URC) quarter-finals represented the end of the domestic season in Wales and another tumultuous campaign on and off the administration, wooden spoons, caretaker coaches, contract controversies and more Welsh Rugby Union (WRU) disputes with the the latest edition in the chaotic world of the soap opera that is Welsh the four professional sides kicked off the campaign last September we wondered how much lower Welsh rugby could sink on the international and domestic there has been a slight improvement from the regions, the dire Dragons apart, the latest campaign has been a disaster on the international stage and in the boardroom with influential figures like Warren Gatland and Nigel Walker two national sides won only one out of 16 internationals while the men's side are without a permanent head coach before a two-Test tour of Japan in has been more off-field controversy involving the WRU who were forced to apologise to Wales women over player Cardiff going into administration and being taken over by the WRU, the governing body find itself in dispute with Ospreys and Scarlets with question marks over whether a region will be cut. Never a dull day in Welsh rugby. National woes Played 10, lost 10. That was the dismal record of Wales' two national sides in the 2025 Six Nations in the space of 86 difficult the 43-0 Friday night Paris mauling dished out to Wales' men's side in January to the 44-12 hammering inflicted by Italy's women in late April, it proved a miserable three months as both sides finished rock men have lost all eight matches this season to take the international record losing sequence to 17 following another clean sweep of Six Nations there was no surprise when there was a record low of two players, captain Jac Morgan and scrum-half Tomos Williams, named in the British and Irish Lions touring party to departed in February, Cardiff coach Matt Sherratt taking charge for the rest of the Six Nations which finished with the record 68-14 home loss to England in remains in charge for Japan, with new performance director Dave Reddin - who might wonder what he has let himself in for - leading the process for Gatland's permanent women have also gained a new coach after Ioan Cunningham paid the price for the contracts dispute at the back-end of 2024. Ironically, Cunningham was the only Wales national coach to gain a victory in the regular season with a 19-10 win against Japan in the WXV2 tournament in South Gloucester-Hartpury boss Sean Lynn came in just a week before the Six Nations started after guiding his club to a third successive league was quickly exposed to the harsh realities as his side became the first Wales women's team to lose all five matches in a Six Nations tournament. He will expect more during the World Cup in England later this is some hope. Wales captain Morgan has been a stoic figure in adversity, while Scarlets and Wales full-back Blair Murray has been the find of the Under-20s provided arguably the performance and occasion of the Whiffin's side defeated defending world champions England in the final Six Nations game at a raucous Arms Park to deny the visitors another Grand Slam. Wales will travel to Italy this summer for the Junior World Championship. Domestic duties In terms of results, the Welsh sides matched the previous campaign with one team reaching the Challenge Cup quarter-finals and the URC play-off last eight. In 2023-24, it was Ospreys who achieved both those feats under the guidance of Toby Booth. This season - with Booth departing just before Christmas and replaced by Mark Jones - Ospreys managed the European knockout stages again but it was Scarlets who reached the league play-offs with a storming finish to the regular campaign before a last-eight defeat at paper there was a slight improvement in results, despite the salary cap reducing to £4.5m. In the 2024-25 URC season, Welsh teams won 25 games compared to 22 in the previous (nine) and Cardiff (eight) were the most improved with their win totals improving by four victories each, while Ospreys had three fewer wins than in were again the major disappointment as they equalled the record for the worst URC league season with just nine points, finishing bottom in a nightmare campaign which also saw Filo Tiatia replace Dai Flanagan as head Welsh side lost 17 successive league games after defeating Ospreys on the opening weekend in September 2024 for a sole dip in interest has also seen Welsh rugby's Judgement Day shelved for next season after a crowd of only 28,000 attended this season's event in April, compared to the 50,000 that turned up for the Bath v Bristol English Premiership match staged a month later at the same Principality Stadium venue. More of the WRU same Welsh rugby has made as many negative off-the-field headlines this season as they have on it. Those hoping fresh faces at the top would signify no more controversies will be change in personnel with chair Richard Collier-Keywood and chief executive Abi Tierney at the helm has so far not resulted in an alteration in headlines or produced an improvement in the dreadful state of the Welsh game. Old behaviours reared its head as Wales women's players were threatened with withdrawal from the WXV2 international competition and, subsequently, this summer's World Cup as contract talks broke were issued with a "final offer" ultimatum on 2 August, saying if they did not sign within a three-hour deadline, planned matches against New Zealand, Scotland and Australia would not go ahead and the contracts would be WRU later apologised for their behaviour but refuted allegations of sexism. Collier-Keywood said the row represented a "failure" of governance and leadership by the union and the "crisis" could have been coach Cunningham and executive director of rugby Walker both departed to be effectively replaced by Lynn and Reddin. Cardiff chaos The WRU launched its "One Wales" strategy in the summer of 2024, with the new Professional Rugby Agreement (PRA) promised to follow soon after to form an integral part of the long-term has not transpired. The WRU had to cope with Cardiff going into administration in April before the governing body bailed them out. That event has led to the dispute between the WRU and Ospreys and Scarlets over the new and Scarlets did not sign up to Welsh rugby's new agreement by the deadline of 8 May, despite the document being signed by Dragons and and Scarlets say they asked the WRU for assurances the takeover "will not disproportionally benefit Cardiff and disadvantage the independent clubs" but claim they were not given the deadline was missed, the WRU announced it will move away from a model of four evenly funded professional sides and intend to implement a new two-tier funding is a decision which Ospreys and Scarlets say has "created more destabilising and debilitating uncertainty in our game".The WRU has now served a two-year notice on the current agreement that underpins the Welsh professional game. That current PRA runs out in 2027 although it was due to be superseded by the new five-year deal. Will four become three? Tierney had continually talked about four equal regions being the way forward but the goalposts have moved with the governing body also having to refinance its debt with the has been mooted the cash-strapped WRU intends to cut a team from its professional tier with the governing body neither confirming or denying this prospect. They hope to have a long-term decision made by September but currently Ospreys and Scarlets, who are Wales' Champions Cup representatives next season, will be on inferior terms than their east Wales rivals. These events have caused another rift in Welsh rugby that has seen Ospreys and Scarlets' local politicians get involved and could ultimately end up with latest saga has caused more uncertainty among players and supporters about what the future holds, with little transparency across the game in Wales and teams fighting for are no winners with Welsh rugby's reputation again publicly dragged through the many dull days in Welsh rugby then with more upheaval to come, which some argue is essential for an upturn in the flagging fortunes. We wait to see what chaos the 2025-26 circus will bring.
