Poundland planning to shut 68 stores in major shake-up – with 82 more at risk over coming years
Dozens of high streets face losing their Poundland stores after the discount retailer yesterday announced a major restructuring plan.
The firm is seeking court approval to shut 68 shops and secure rent reductions on others — with a further 82 possibly closing in the coming years.
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It also plans to close its frozen and digital distribution site at Darton, South Yorks, this year and another warehouse at Springvale in Bilston, West Mids, in early 2026.
Around 1,000 shop staff and 350 warehouse workers in the UK will be affected by the restructure, but none in Ireland.
Last week, Polish owner Pepco Group sold Poundland to US investment firm Gordon Brothers for £1 after a downturn in trading.
Bosses said they expect the court proceedings for the restructuring to conclude in late summer.
Poundland MD Barry Williams said: 'It's no secret that we have much work to do to get back on track.
'It's sincerely regrettable this plan includes the closure of stores and distribution centres, but it's necessary if we're to achieve our goal of securing the future of thousands of jobs and hundreds of stores.'
Poundland could end up with as few as 650 stores in the UK and Ireland.
It also plans to stop selling frozen food in its stores and scale back its chilled range.
And shoppers will no longer be able to order its products online.
Poundland to be sold for JUST £1 as frontrunner for shock takeover is revealed after wave of store closures
'Interest' in sale of TSB
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The Spanish parent firm of TSB is considering selling the UK high street bank.
In a regulatory filing, Banco Sabadell said it received 'preliminary non-binding expressions of interest for the acquisition of the entire share capital of TSB'.
TSB has around 175 UK branches and serves five million customers. Sabadell bought it a decade ago for £1.7billion.
It comes amid a flurry of interest in our banking sector, with Metro Bank seeing a takeover approach from Pollen Street Capital, while Santander pushed back bids from NatWest and Barclays.
EasyJet strike
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EasyJet cabin crew in Spain are planning a three-day strike over pay from June 25 — just as the summer holiday season begins.
More than 650 USO union members based in Alicante, Barcelona, Malaga, and Palma de Mallorca could be involved.
They claim cabin crew in Spain earn significantly less than counterparts in other European countries.
EasyJet insists it will operate flights normally during the strike.
Energy compo
Energy firm Utilita must pay £277,000 after failing to issue its Warm Home Discount payments on time, Ofgem said yesterday.
The scheme gives low-income consumers an automatic payment of £150 a year.
The regulator found Utilita failed to pass on the discount to more than 4,000 customers in 2023 and 2024 due to an 'internal error'.
It must now pay £247,000 in compensation on top of £30,000 it stumped up earlier.
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