Poundland has undergone a significant restructuring process, resulting in the closure of numerous stores following its acquisition by an investment firm for a nominal fee. The budget retailer, which previously operated 800 branches, now anticipates reducing its footprint to approximately 650 to 700 stores by closing some locations and allowing leases to expire naturally.
Continuing into the autumn season, Poundland has announced the closure of 23 stores, initiating closing down sales with discounts of up to 40%. Among the affected areas are Burnley, Leicester, and Glasgow. While the Livingston store was initially slated for closure on October 12, it will now remain open after reaching new lease terms with the landlord.
Despite previous plans to shut down 68 stores, Poundland has decided to cancel 11 closures for the time being. The company is implementing a simplified pricing structure of £1, £2, and £3 across its UK stores, with an estimated distribution of 60% of items priced at £1, 20% at £2, and 20% at £3. Additionally, Poundland has updated its website to showcase products only, discontinuing online purchases.
Moreover, Poundland has ceased its loyalty app, Poundland Perks, while allowing customers to redeem existing vouchers until January 15, 2026. Retail director Darren MacDonald expressed regret over store closures but emphasized the commitment to offering exceptional value to customers during the final sales. Poundland looks forward to serving customers at its remaining stores across the UK post closures.
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