Exact date major budget retailer with 800 UK stores to close Scots branch
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A MAJOR budget retailer with 800 UK stores is to close a Scottish branch.
Poundland will shut up to 68 outlets with a further 150 at risk of closure amid a restructuring plan.
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Poundland will shut up to 68 outlets with a further 150 at risk of closure
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It comes after the chain was sold to investment firm Gordon Brothers, the former owners of Laura Ashley, for £1.
The retail chain had previously been owned by Polish company Pepco Group since 2016.
Poundland's store in Port Glasgow, which is located in the Gallagher Shopping Park, is set to close on August 10.
Earlier this month, department store Matalan lodged plans for a new branch in the unit currently occupied by the Inverclyde shop.
It is currently unknown if any jobs are at risk.
A Poundland spokesperson told the Greenock Telegraph: "We told colleagues at the store some weeks ago that they were sadly one of the 68 locations Poundland planned to close as part of it's restructuring and recovery plan.
"It goes without saying that we are formally consulting with colleagues at the store and that work is underway.
"Over time, Poundland expects to have a store network of around 650-700 stores in the UK and Ireland compared to close to 800 today.
"While that remains a very sizeable network, we understand how disappointing it will be when one nearby closes."
Matalan hopes to make a lot of changes to the unit it takes over.
Walkthrough Poundland's first £1million store
Bosses want to "demolish existing walls, doors and services and strip back to shell from current occupier".
They will also add new compartment walls, partition walls, doors, fire doors, furniture and services.
Poundland has made an announcement which outlines a series of changes in a bid to keep the business afloat.
But these will need to be approved by the High Court in August.
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A budget retailer with 800 UK stores to close a Scottish branch
Credit: Getty
The company operates around 800 stores and employs about 16,000 people.
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