Latest news with #POUNDLAND
Scottish Sun
20 hours ago
- Business
- Scottish Sun
Poundland to close two more shops starting in DAYS as 200 branches are still at risk – see the full list
Find out how the chain could be sold for just £1 below SHUTTING DOWN Poundland to close two more shops starting in DAYS as 200 branches are still at risk – see the full list POUNDLAND is set to shut two more stores in days as the future of 200 remains in the balance. The bargain chain is closing the branches in Bristol and Flint on June 20 and June 21, respectively. Advertisement 1 Poundland is shutting two more stores in days Credit: PA The shop in Union Gate, Bristol, will merge with two others nearby in Horsefair and the Broadmead Shopping Centre. Shoppers and locals have shared their sadness after finding out both the sites will close for good. Commenting on the Flint closure, one said on Facebook: "One lovely shop and staff." Another posted: "Oh no I love that Poundland." Advertisement Discussing the Bristol closure, one customer said: "Love that shop. Just been in there and (it's) a convenient location." Another added: "Awww no way." It comes as Poundland shuts a raft of branches across the UK. Eight stores have closed since the start of May including in Liverpool and Ipswich, while 12 in total have shut since March last year. Five more are earmarked for closure from June 11. Advertisement This is the full list of stores that have closed, or are set to close in the coming months: Connswater Shopping Centre, Belfast – closed March 2024 – closed March 2024 Macclesfield – closed August, 2024 – closed August, 2024 Maidenhead – closed October, 2024 – closed October, 2024 Sutton Coldfield – closed October, 2024 – closed October, 2024 Clapham Junction Station, London – closed May 2 – closed May 2 Belle Vale Shopping Centre, Liverpool – closed May 6 – closed May 6 St George's Centre, Gravesend – closed May 8 – closed May 8 Southwark Park Road – closed May 14 – closed May 14 Copdock Mill Interchange, Ipswich – closed May 20 – closed May 20 Brackla, Wales – closed May 24 – closed May 24 Chiswick High Road – closed May 28 – closed May 28 Filton Abbeywood – closed May 31 – closed May 31 Surrey Quays – closing June 11 – closing June 11 Union Gate, Bristol - closing June 20 - closing June 20 Flint - closing June 21 - closing June 21 Cowes, Isle of Wight – closing July (exact date tbc) – closing July (exact date tbc) Newquay, August 1 POUNDLAND BEST BUYS It comes with hundreds of Poundland stores and thousands of jobs at risk as part of a rescue deal. What is happening with Poundland? The owner of Poundland, Pepco, is reportedly eyeing up a sale of its UK retail arm for £1, with up to 200 shops potentially closing as part of the process. Bidding for the business started last month, with Gordon Brothers, the ex-owner of Laura Ashley, and Homebase owner Hilco reported to be in a two way race. Advertisement A decision on who the preferred bidder is could be announced in the coming days. Pepco said it expects the sale of Poundland in the UK to complete by September. In April, it was reported advisory firm Teneo was drafted in 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. Advertisement 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. 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." Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Advertisement Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Scottish Sun
3 days ago
- Business
- 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".
Scottish Sun
27-05-2025
- Business
- Scottish Sun
Poundland shutting another three branches with 200 more at risk – see full list of stores closing in days
Read on to see the full list of store closures RETAIL PAIN Poundland shutting another three branches with 200 more at risk – see full list of stores closing in days Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) POUNDLAND is set to close three more stores over the coming weeks with up to 200 stores at risk. The bargain retailer will close a number of branches weeks ahead. Sign up for Scottish Sun newsletter Sign up 1 Poundland has plans to shut up to eight stores this month Credit: Simon Jones This includes three branches across Filton, London and Cowes, which are due to begin closing as soon as this Saturday. The South Gloucestershire store is due to shut on May 31 giving shoppers just shy of a week to say their goodbyes. News of the closure came as a shock to locals who described the move as a "shame". Others said they were "gutted" for the staff that work there. A spokesperson for the brand confirmed the closure to The Sun and also said shoppers are welcome to visit nearby sites in Emersons Green Retail Park store or other locations across Bristol. Meanwhile, a branch in Surrey Quays, in London will close on June 11. Finally, a branch in Cowes in the Isle of Wight will close come July. The branch opened back in 2021, so it brings an end to a near four year stint in the area. It comes after it was reported that up to 200 stores could close as part of Poundland's rescue deal. 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. Poundland to be sold for JUST £1 as frontrunner for shock takeover is revealed after wave of store closures 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) 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."
Scottish Sun
25-05-2025
- Business
- Scottish Sun
Full list of Poundland closures this month as 200 stores at risk
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) POUNDLAND will have shut six locations by the end of the month - and hundreds more are at risk of closure. The bargain retailer has pulled the plug on five stores in the last couple of weeks. Sign up for Scottish Sun newsletter Sign up 1 Last month, its parent company Pepco is said to have hired advisory firm Teneo to oversee the sale of the Poundland brand Credit: Getty This comes after a further 200 loss-making stores were identified as possible closures. 'As announced at the capital markets day on March 6, Pepco Group is moving away from fast-moving consumer goods to create a simpler business focused on higher-margin clothing and general merchandise and is actively exploring separation options for Poundland, including a potential sale, from the group,' a spokesperson for Poundland's parent company Pepco Group said. You can see the full list of closures this month below: Chiswick, High Road – closing May 28 Copdock Mill Interchange Ipswich, closed May 20. St George's Centre, Gravesend – closed last week Clapham Junction Station, London – closed May 2 Belle Vale Shopping Centre, Liverpool – closed May 6 Brackla, Wales – closed May 24 In March, Poundland was forced to shut its Belfast branch after the Connswater Shopping Centre was placed into receivership. The store closed its doors at the end of March, following a major closing-down sale. Back in October, residents of Maidenhead were similarly dismayed when their local Poundland branch closed. This came in addition to other closures, including its Sutton Coldfield store on October 5 and the Macclesfield branch last August, the latter closing due to the inability to secure a new lease agreement. WHAT IS GOING ON AT POUNDLAND? It follows reports that up to 200 stores could close as part of a rescue deal of the brand. Gordon Brothers, the ex-owner of Laura Ashley, has become the frontrunner to takeover the bargain chain, which recently announced a wave of store closures across the UK. Walkthrough Poundland's first £1million store Turnaround Investors were linked with a bid for Poundland. These firms specialise in buying up struggling businesses in the hopes of turning them around. Bidding for the business was expected to start this Tuesday. A source told The Sunday Times that Poundland would be priced at "effectively a pound." Several interested parties are reportedly looking at bidding on the UK budget retailer. Further store closures and job losses would come as a blow to the high street. Polish retail giant Pepco said it expects the sale of Poundland to complete by September. Last month, the parent firm is said have hired advisory firm Teneo to oversee the sale of the UK business. Poundland revenues dropped by 6.5% to 985 million euros (£830 million) for the six months to March, compared with a year earlier.
Scottish Sun
23-05-2025
- Business
- Scottish Sun
Poundland makes big change to loyalty scheme in cost-cutting shake-up amid store closure risk
Poundland says the big change will bring shoppers "more of what they love" SHAKE UP Poundland makes big change to loyalty scheme in cost-cutting shake-up amid store closure risk Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) POUNDLAND has made a major change to its loyalty scheme as it launches a cost-cutting shake-up. The discount store has scrapped its exclusive lower prices for Poundland Perk members, which had worked similarly to Tesco's Clubcard offers. Sign up for Scottish Sun newsletter Sign up 1 Poundland has been struggling in recent months and could close up to 200 stores Credit: Alamy It comes as the troubled discount chain is being sold off by owner Pepco and up to 200 stores could face closure. Poundland has told The Sun the loyalty scheme shake-up is aimed at lowering prices on the shelves for all customers without the "hassle" of looking for a voucher in the shop's app. Customers will still be able to collect points on their shops and there will be weekly competitions to win points and prizes. Poundland shoppers get Perk Points when they spend money at the retailer and these can be turned into vouchers when they've accumulated at least 5,000 points. The Win It Wednesday competition is available in Poundland's app every Wednesday. Shoppers can spin the virtual wheel for a chance to win points or prizes and no purchase is needed. A spokesperson for Poundland said: "We've been listening closely to customers since we began piloting the app nationwide. "They tell us they really love collecting points and playing on 'Win it Wednesday', but customers want to see the lowest prices on the shelf without the hassle of looking for a voucher in the app. "So, we're bringing more of what they love and less of what they don't!" What's happening at Poundland? Poundland has been struggling in recent months after reporting slow sales and a rise in costs due to the Government's Budget measures. Poundland to be sold for JUST £1 as frontrunner for shock takeover is revealed after wave of store closures The brand said in an update yesterday it had suffered "challenges across all categories" and had shut 18 stores in the six months to March. Late last year it was revealed that profits at the company had tumbled by £641million in the year to September. Polish retail giant Pepco currently owns Poundland but is expecting to sell it off by September. Last month it hired advisory firm Teneo to oversee the sale of the business. Gordon Brothers, the ex-owner of Laura Ashley, has become the frontrunner to take over the bargain chain. Bidding for the business was expected to start earlier this week and a source told The Sunday Times that Poundland would be priced at "effectively a pound". Sky News is now reporting that Gordon Brothers and former HMV and Homebase owner Hilco are in a two-way race to buy the chain. A decision on the preferred bidder is likely within days. Up to 200 stores could reportedly close as part of the rescue deal. Poundland currently has 825 stores across the UK. The retailer has already announced plans to shut around 10 stores since the start of the year. Some of the stores that have already shut include locations in Ipswich, Gravesend, London and Liverpool. The store on Chiswick High Road in west London will close next week.
