Poundland issues shop closure update after shutting 150 UK stores | UK | News

Poundland has announced that its restructuring programme which saw almost 150 stores close and helped it avoid plunging into administration is complete, but it says there’s still “much to do”. The major shake up was set in motion in June after the struggling high street band was bought by American investment firm Gordon Brothers from previous owners Pepco following a slump in sales.

In a bid to revive the chain’s fortunes, Poundland secured High Court approval last August for the plan which involved cutting its estate down from 800 to 651 stores, and reducing its work force from 14,200 to around 12,000 at the end of 2025, representing approximately 2,200 job losses. In a statement, Poundland has now said the wave of closures has come to an end. The company said: “Any future closures will be a consequence of standard business-as-usual lease events expected at a retailer with a large store network.”

However, Poundland emphasised that the work to turnaround their finances isn’t over. Christmas trading figures showed like-for-like underlying sales dropping 2.9% in the quarter to December 28 after the chain dropped prices.

However, comparable store sales by volume saw a 2% increase. Poundland managing director Barry Williams said: “While there’s been significant progress as we refocus and re-energise the business with lower prices and a sharper offer, we know we still have much to do.

He added that the chain’s focus on their costs has, “without doubt, given us a platform for future growth, but no sustainable turnaround can be based on cost management alone”.

“That’s why our focus in 2026 will be on delivering the kind of ranges and price simplicity our customers want right across the store – in clothing, homewares as well as our core grocery aisles,” he added.

Mr Williams said their customers had told them “loud and clear they want a simpler, more focused Poundland that keeps its promise of amazing value”.

“We have clear indications from the work we’ve already done that we’re on the right track.”

In a statement last year prior to the formal approval of the closures, Mr Williams said: “It’s sincerely regrettable that this plan includes the closure of stores and distribution centres, but it’s necessary if we’re to achieve our goal of securing the future of thousands of jobs and hundreds of stores.