Poundland confirm short-term future of Welshpool store
Poundland have confirmed that Powys customers will still be able to shop at their stores – for now.
The company which has been brought out US investment firm Gordon Brothers has said the stores in Welshpool and Aberystwyth would not be among the initial 68 stores that are set to close if their restructuring plan is accepted.
The company, which has been in financial turmoil, will be subject to big changes if the plan is accepted by the court.
If approved, Gordon Brothers, who used to own Laura Ashley, will pursue 'the closure of 68 stores and rent reductions across a number of other locations'.
Currently the company has around 800 stores across the UK but if the plans go ahead it will 'result, over time, in an anticipated network of around 650-700 stores' – meaning the Welshpool and Aberystwyth stores may not be entirely safe in the long term.
Barry Williams, managing director of Poundland said: 'It's no secret that we have much work to do to get Poundland back on track.
'While Poundland remains a strong brand, serving 20 million-plus shoppers each year, our performance for a significant period has fallen short of our high standards and action is needed to enable the business to return to growth.
'It's sincerely regrettable that this plan includes the closure of stores and distribution centres, but it's necessary if we're to achieve our goal of securing the future of thousands of jobs and hundreds of stores.
'It goes without saying that if our plans are approved, we will do all we can to support colleagues who will be directly affected by the changes.'
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The changes would also see Poundland would end its sale of frozen food and a reduction of its chilled food offer which would 'be anchored around its market-leading £3 meal deal and other essentials such as milk'.
The company have also promised 'the return of ranges lost during the transition to Pepco-sourced products – for example a greater depth of womenswear in its clothing offer, the return of key seasonal general merchandise ranges and the restoration of product categories customers have missed.'
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