Poundland is going ahead with closing more stores after a major restructuring plan was approved by the court.
After being sold by Pepco Group to Peach Bidco, a division of private equity company Gordon Brothers, for £1, the bargain retail chain announced in June that it intended to permanently close 68 locations.
Barristers told a court on Tuesday that the company would run out of money by September 7 if the plan had not been approved, but the corporation assured the judge that the plan would prevent it from going into administration.
Poundland is planning to cut its current 800 locations in the UK to between 650 and 700.
The business plans to close 11 more outlets on August 31 after closing more than 30 this month. By mid-October, it also intends to close down more stores when leases expire instead of extending them.
Full Poundland store closures
Poundland stores closing down on August 31
- Shepherd’s Bush, Greater London
- Blackburn, Lancashire
- Cookstown, Northern Ireland
- Erdington, West Midlands
- Kimberley Nottingham, Nottinghamshire
- Horsham, West Sussex
- Hull Kingston retail park, East Yorkshire
- Kettering, Northamptonshire
- Omagh, Northern Ireland
- Southport, Merseyside
- Taunton, Somerset
This store will shut on September 14:
- Irvine, Scotland
The following stores have already closed:
- Ammanford, Wales
- Birmingham Fort Shopping Park, West Midlands
- Cardiff, Wales
- Cramlington, Northumberland
- Leicester, Leicestershire
- Long Eaton, Nottinghamshire
- Port Glasgow, Scotland
- Seaham, County Durham
- Shrewsbury, Shropshire
- Tunbridge Wells, Kent
- Bedford, Bedfordshire
- Bidston Moss, Merseyside
- Broxburn, Scotland
- Craigavon, Northern Ireland
- Dartmouth, Devon
- East Dulwich, Greater London
- Falmouth, Cornwall
- Hull St Andrew retail park, East Yorkshire
- Newtownabbey, Northern Ireland
- Perth, Scotland
- Poole, Dorset
- Sunderland Pallion retail park, Tyne and Wear
- Stafford, Staffordshire
- Thornaby, North Yorkshire
- Worcester, Worcestershire
- Brigg, North Lincolnshire
- Canterbury, Kent
- Coventry Hertford Street, West Midlands
- Newcastle Killingworth Centre, Tyne and Wear
- Kings Heath, West Midlands
- Peterborough Orton Gate shopping centre, Cambridgeshire
- Peterlee, County Durham
- Rainham, Kent
- Salford, Greater Manchester
- Sheldon, West Midlands
- Wells, Somerset
- Whitechapel, Greater London
- Swiss Cottage, Greater London
- Southampton West Quay, Hampshire
- Chiswick, Greater London
Poundland has stated that it will close 16 additional stores, but it has not yet disclosed where they will be located.It is anticipated that store employees will be notified when the closure dates for these are published later in the year.
