By Emeka Blast 
Poundland to Close 68 Stores and Two Warehouses, Putting 1,300+ Jobs in Jeopardy
Poundland, the UK-based discount retailer, is undergoing a significant restructuring following its acquisition by US investment firm Gordon Brothers for just £1. The company has announced plans to close 68 stores and two distribution centres, with up to 150 store closures being considered in total. These actions could put over 2,000 jobs at risk .
Key Elements of the Restructuring Plan:
- Store Closures: 68 stores are confirmed for closure, with up to 150 additional stores under review. The company aims to reduce its network to between 650 and 700 stores from the current 800 .
- Distribution Centres: The Darton and Springvale distribution centres are scheduled to close, while centres in Wigan and Harlow will remain operational .
- Product Offerings: Poundland will cease selling frozen foods, discontinue its Perks loyalty app, and scale back its chilled food offerings. Online sales will also be halted, transitioning the website to a brand site only .
- Financial Support: Gordon Brothers has committed to investing up to £80 million to support the restructuring efforts.
The restructuring plan requires approval from creditors through a High Court process, with a decision expected in August 2025 .
