Poundland news and archive

Poundland initiates further store closures amid turnaround

Budget retailer Poundland has confirmed another round of store closures as it continues rolling out its court-approved turnaround plan. The chain has told various media, including Sky News, that it is due to close an additional 14 stores by February, alongside the 19 already set to shutter. By early next year, this will bring Poundland’s store...

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Poundland slashes head office jobs as it simplifies structure

Weeks after the High Court approved its restructuring, Poundland is officially moving forward with its transformation plan. The budget retailer has confirmed a number of job cuts across its head office as part of efforts to simplify the business structure. Speaking to Retail Week, a spokesperson for the company said that it had proposed removing...

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Poundland skirts administration as restructuring plan gets court approval

Poundland has received court-backing for its restructuring plan, allowing it to bypass administration. A representative told the High Court earlier today that the budget retailer would run out of money by September 7, 2025, if the plan was not approved. Speaking to the court for Poundland Limited, Tom Smith KC said the retailer’s financial...

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British landlord appoints lawyers as Poundland and River Island plot store closures

British Land, a commercial property company, has reportedly appointed lawyers to look into the rescue deals of struggling high street chains Poundland and River Island. The firm is said to have been instructed by Hogan Lovells to seek further information on the restructuring plans for the two retailers, according to Sky News, to which British...

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Poundland to bring clothing range back in-house

Poundland has said that its "successful clothing business” is to return in-house by early 2026, following the budget retailer’s acquisition by Gordon Brothers last month. Poundland had previously tasked an in-house team with developing a clothing range prior to shifting its sourcing under former owner Pepco Group. A spokesperson for the company...

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From New Look to Select Fashion: Inside the retail collapse threatening the UK high street

The UK retail landscape continues to face mounting challenges. Amid rising operational costs, the long-tail impact of the pandemic and ongoing supply chain disruptions, many businesses are navigating an increasingly volatile environment. An uncertain outlook remains for a significant portion of the sector – and the country is on track to see a...

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Poundland to close 68 stores as part of restructuring under new owner

Days after its takeover by Gordon Brothers, Poundland has confirmed the closure of 68 stores as part of a court-sanctioned restructuring. The company is expected to maintain between 650 and 700 stores across the UK, down from its approximately 800 existing locations. Poundland has further stated that its frozen and digital distribution centre in...

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Gordon Brothers snaps up Poundland, to inject 80 million pounds into turnaround

Restructuring and investment firm Gordon Brothers has emerged as the buyer of Poundland. As a result, the British budget retailer will receive an 80 million pound financing boost to back a ‘Proposed Restructuring’, agreed on by all three parties, including former owner Pepco Group. Details on this plan are expected to be shared by Poundland in “...

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Poundland eyeing mass store closures amid ongoing turnaround plan

Poundland is said to be mulling the closure of between 150 and 200 stores amid an ongoing turnaround plan being carried out as its sales process continues. According to the Telegraph, the budget retailer is also eyeing up to 500 sites for rent cuts, with a plan to impose rent reductions on landlords between 10 and 50 percent. Other agreements...

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Pepco Group: Poundland poses further problems in first half

Retail group Pepco Group NV increased its sales in the first half of 2024/25, but faced further difficulties with the Poundland retail chain. In the six months to March 31, the discounter generated sales of 3.3 billion euros, according to preliminary figures published on Thursday. This represents growth of 4.3 percent compared to the same period...

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Former Cath Kidston owner Hilco joins running for Poundland

Hilco Capital has reportedly joined the race for British budget retailer Poundland. The investing firm, which most recently acquired Lakeland, is said to be mulling a bid for the chain store alongside Alteri Investors and turnaround firm Endless. Modella Capital, which is overseeing the ongoing restructuring of The Original Factory Shop, is also...

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Pepco appoints advisors to handle potential sale of Poundland

Pepco Group has reportedly appointed advisors at Teneo to handle the sale of Poundland, a UK budget retail chain. If offloaded, the move could put at risk the retailer’s 825 stores. The news comes on the back of a Capital Markets Day investor presentation last week in which Pepco’s chief executive officer, Stephan Borchert, said the company was...