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(Sharecast News) - Poundland is pressing ahead with a sweeping restructuring that will see more than 100 of its UK stores shut by early next year, as the discount chain continues to recover from a near-collapse and change of ownership earlier in 2025.
The retailer on Friday confirmed a further 14 closures to be completed by early February, on top of 19 outlets already scheduled to shut over the coming months.
It said the latest wave would affect sites including Lancaster, Hammersmith, Weston-Super-Mare, Liverpool, Bristol Avon Meads and Coatbridge, adding to earlier closure plans in locations such as Brighton, Farnham, Portishead and Edinburgh's Cameron Toll.
The programme meant Poundland's estate would have shrunk from about 800 shops at the start of the turnaround to between 650 and 700 once the process was finished.
By the end of September, 57 stores had already closed as the company targeted its weakest-performing outlets, while a further 40 branches have been running clearance sales ahead of shutdown where landlords have chosen not to renew leases.
Shops earmarked for closure were holding discount events with reductions of up to 40% on goods including groceries, homeware, clothing and beauty products until remaining stock is sold.
Poundland's overhaul followed a brush with insolvency earlier this year.
The chain was sold for 1 to restructuring specialist Gordon Brothers in June and only avoided administration in August, when a restructuring plan was approved in the High Court just days before it was expected to run out of cash.
The new owners had focussed on cutting loss-making stores and simplifying the business model in an effort to stabilise finances and "secure its future on Britain's high streets".
As part of that reset, the retailer said it was reintroducing a simpler price architecture, reverting grocery ranges to straightforward 1, 2 and 3 price points across UK shops, with roughly 60% of food items set at 1.
The simplified pricing was being extended into general merchandise and clothing as the company looked to reinforce its value positioning while operating from a smaller footprint.
Darren MacDonald, Poundland's UK country manager, acknowledged the impact on local shoppers but said the company was determined to leave closing locations on a positive note.
"We know how disappointing it is when we leave a store, but before we close our doors for a final time, we're determined to say goodbye by offering even more amazing value to customers," he said.
"And when we close our doors, we look forward to welcoming customers to one of the hundreds of Poundland stores we'll continue to operate right across the UK."
Reporting by Josh White for Sharecast.com.