Scottish Poundland store included on list of retailer's latest closures
A Scottish Poundland store is set to close in just under a month. The budget retailer recently announced another three store closures following its sale earlier this year.
Among the list was the Inverclyde branch in Port Glasgow, based in the Gallagher Shopping Park, with reports saying that it is set to close its doors on Sunday, August 10.
According to the Sun, the discounted retailer will also be closing down its Stratford-upon-Avon store on Bridge Street next week on July 21, while its Whitby store is set to close on September 3.
With the latest three store closure announcements, it will bring the total Poundland stores closed to 24 this year, with the firm also confirming its branches in St Mark's Place, Newark and another in Pontypool, would be closing.
News of Poundland's closures come after the struggling firm was sold in a £1 deal to investment firm Gordon Brothers, the former owners of British fashion company Laura Ashley.
The firm was put up for sale earlier this year in March, with its then owner the Pepco Group auctioning of the brand following a slump in sales over the past year.
Restructuring plans would see the discounted retailer, which operates around 800 branches, close up to 68 stores, with a further 150 at risk, reducing its portfolio to between 650 to 700 stores.
First opened in 1990, Poundland now offers it customers a selection of products that includes household goods, food, clothing and beauty items.
However, its new owners are said to have proposed a range of changes that would see it remove frozen food products at stores where they're currently sold, stopping selling products on its website, and providing more seasonal and womenswear ranges.
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Poundland isn't the only retailer to be struggling this year, we recently reported that Claire's Accessories was also potentially considering a sale after it had to draft in advisors to help with a rescue plan to pay a loan due next year.
The beloved jewellery retailer, which is primarily marketed towards the younger generation, hired experts from Interpath as it is currently facing an outstanding loan worth $480million (£355million) that needs to be repaid in December 2026.
While no announcement regarding closures has been made, Interpath's appointment has brought into question the possibility of potential sweeping store closures and the chain pulling out of some countries entirely as it "seeks to dramatically rein in costs."
Poundland stores set to close
St Marks Place Newark - unknown
Telford - closing July 1
Stratford-upon-Avon - July 21
Newquay - closing July 30
Cowes, Isle of Wight – closing July 30
Newquay - August 1
Whitby - September 3
Pontypool - September 7
Inverclyde - August 10
Poundland stores already closed
Connswater Shopping Centre, Belfast – closed March 2024
Macclesfield – closed August, 2024
Maidenhead – closed October, 2024
Sutton Coldfield – closed October, 2024
Clapham Junction Station, London – closed May 2
Belle Vale Shopping Centre, Liverpool – closed May 6
St George's Centre, Gravesend – closed May 8
Southwark Park Road – closed May 14
Copdock Mill Interchange, Ipswich – closed May 20
Newport, Wales – closed May 24
Chiswick High Road – closed May 28
Filton Abbeywood – closed May 31
Surrey Quays – closed June 11
Barrow Dalton Road - closed June 12
Union Gate, Bristol - closed June 20
Flint - closed June 21
Colchester - closed
The Daily Record has approached Poundland for a comment on its store closure.
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