- Poundland has received court approval for a major restructuring plan, which saved the high-street retailer from entering administration.
- Barristers informed the court that without the sanctioned scheme, the company would have exhausted its funds by 7 September.
- The discount retail chain was sold by Pepco Group to Peach Bidco, a subsidiary of private equity firm Gordon Brothers, for £1.
- In June, Poundland announced plans to permanently close 68 of its shops.
- An additional 16 stores are set to close, with their locations and closure dates to be announced later in the year.
IN FULL
The Poundland stores set to close revealed after business escapes collapse
