Poundland to shut ANOTHER branch as the exact closure date is revealed – with 200 more at risk
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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.
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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".
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