Latest news with #Poundland.co.uk
Glasgow Times
08-07-2025
- Business
- Glasgow Times
Discount retailer's Glasgow store at risk of closure
Poundland's shop at 1588 Great Western Road in Anniesland is among 68 of the brand's stores facing closure, if plans are approved. It comes after the company was taken over by the Gordon Brothers in June 2025. Following the takeover, the firm announced details of a 'recovery plan' to return the 'business to growth'. As part of the plan, the beloved discount store launched its 'restructuring plan', which is described as a 'foundational element' of the brand's recovery plan. READ MORE: Jobs at risk as Poundland 'to close' more than 50 UK shops READ MORE: Major retailer closing down Glasgow Silverburn store Poundland revealed the proposal is intended to deliver 'a financially sustainable operating model for the business after an extended period of under-performance'. If approved by the courts, the chain's restructuring plan, alongside the broader recovery plan, is expected to result in: The closure of 68 stores and rent reductions across a number of other locations will result, over time, in an anticipated network of around 650-700 stores. Poundland's withdrawal from the retail sale of frozen food in the stores where it's currently offered. The reduction of its chilled food offer, which will in future be anchored around its market-leading £3 meal deal and other essentials such as milk. The closure of Poundland's frozen and digital distribution centre at Darton, South Yorkshire, later this year and its national distribution centre at Springvale in Bilston, West Midlands, in early 2026. Delivery volumes from a streamlined Poundland will be absorbed into its existing distribution centres in Wigan and Harlow. The simplification of Poundland's digital presence, converting from a transactional website to a brand website, and the retirement of its Perks app as the business focuses on its in-store offer for customers. 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. Poundland said that impacted creditors have been contacted, and the court timetable is expected to conclude later this summer. 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 20m-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.' It is understood that staff at the store in Glasgow's Anniesland have been informed about the potential closure. If plans materialise to close the store, Poundland said they would work with staff members to explore any suitable alternative roles. While the brand has unveiled plans to potentially shut its Anniesland store, it still has several other locations across Glasgow, including one on Sauchiehall Street and another on Argyle Street.
North Wales Chronicle
17-06-2025
- Business
- North Wales Chronicle
1,300-plus jobs at risk as Poundland plans to shut 68 shops and two warehouses
Last week, Pepco Group sold the discount chain for £1 after it had been hit by a sharp downturn in trading in recent years. On Tuesday, Poundland said it is seeking court approval for a restructuring plan to shut 68 shops and secure rent reductions on dozens more. It is understood that around 1,000 shop workers are set to be affected by the restructuring. The discount chain, known for primarily selling products for £1, also indicated it will shut dozens more of its UK shops in the coming years under the new ownership. The retailer said it expects to end up with between 650 and 700 stores across the UK and Ireland after the overhaul. It currently runs around 800 stores but stressed Irish shops have not been affected by the restructuring plan. Poundland said it also plans to close its frozen and digital distribution site at Darton, South Yorkshire, later this year and another warehouse at Springvale in Bilston, West Midlands, in early 2026. Around 350 people will be affected by the warehouse closures. It will also stop selling frozen food at stores where it's currently offered and reduce its chilled food offer in the future. The warehouse closures are also linked to Poundland's plan to stop online sales through its website. Bosses said they expect the court proceedings for the restructuring to conclude in late summer. 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.' Last month, Poundland reported revenues dropped by 6.5% to 985 million euros (£830 million) for the six months to March, compared with a year earlier. The brand suffered 'challenges across all categories' and had 18 net store closures over the period.
Leader Live
17-06-2025
- Business
- Leader Live
1,300-plus jobs at risk as Poundland plans to shut 68 shops and two warehouses
Last week, Pepco Group sold the discount chain for £1 after it had been hit by a sharp downturn in trading in recent years. On Tuesday, Poundland said it is seeking court approval for a restructuring plan to shut 68 shops and secure rent reductions on dozens more. It is understood that around 1,000 shop workers are set to be affected by the restructuring. The discount chain, known for primarily selling products for £1, also indicated it will shut dozens more of its UK shops in the coming years under the new ownership. The retailer said it expects to end up with between 650 and 700 stores across the UK and Ireland after the overhaul. It currently runs around 800 stores but stressed Irish shops have not been affected by the restructuring plan. Poundland said it also plans to close its frozen and digital distribution site at Darton, South Yorkshire, later this year and another warehouse at Springvale in Bilston, West Midlands, in early 2026. Around 350 people will be affected by the warehouse closures. It will also stop selling frozen food at stores where it's currently offered and reduce its chilled food offer in the future. The warehouse closures are also linked to Poundland's plan to stop online sales through its website. Bosses said they expect the court proceedings for the restructuring to conclude in late summer. 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.' Last month, Poundland reported revenues dropped by 6.5% to 985 million euros (£830 million) for the six months to March, compared with a year earlier. The brand suffered 'challenges across all categories' and had 18 net store closures over the period.
South Wales Guardian
17-06-2025
- Business
- South Wales Guardian
1,300-plus jobs at risk as Poundland plans to shut 68 shops and two warehouses
Last week, Pepco Group sold the discount chain for £1 after it had been hit by a sharp downturn in trading in recent years. On Tuesday, Poundland said it is seeking court approval for a restructuring plan to shut 68 shops and secure rent reductions on dozens more. It is understood that around 1,000 shop workers are set to be affected by the restructuring. The discount chain, known for primarily selling products for £1, also indicated it will shut dozens more of its UK shops in the coming years under the new ownership. The retailer said it expects to end up with between 650 and 700 stores across the UK and Ireland after the overhaul. It currently runs around 800 stores but stressed Irish shops have not been affected by the restructuring plan. Poundland said it also plans to close its frozen and digital distribution site at Darton, South Yorkshire, later this year and another warehouse at Springvale in Bilston, West Midlands, in early 2026. Around 350 people will be affected by the warehouse closures. It will also stop selling frozen food at stores where it's currently offered and reduce its chilled food offer in the future. The warehouse closures are also linked to Poundland's plan to stop online sales through its website. Bosses said they expect the court proceedings for the restructuring to conclude in late summer. 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.' Last month, Poundland reported revenues dropped by 6.5% to 985 million euros (£830 million) for the six months to March, compared with a year earlier. The brand suffered 'challenges across all categories' and had 18 net store closures over the period.
Glasgow Times
17-06-2025
- Business
- Glasgow Times
1,300-plus jobs at risk as Poundland plans to shut 68 shops and two warehouses
Last week, Pepco Group sold the discount chain for £1 after it had been hit by a sharp downturn in trading in recent years. On Tuesday, Poundland said it is seeking court approval for a restructuring plan to shut 68 shops and secure rent reductions on dozens more. It is understood that around 1,000 shop workers are set to be affected by the restructuring. The retailer has said it will stop selling frozen food in stores (Poundland/PA) The discount chain, known for primarily selling products for £1, also indicated it will shut dozens more of its UK shops in the coming years under the new ownership. The retailer said it expects to end up with between 650 and 700 stores across the UK and Ireland after the overhaul. It currently runs around 800 stores but stressed Irish shops have not been affected by the restructuring plan. Poundland said it also plans to close its frozen and digital distribution site at Darton, South Yorkshire, later this year and another warehouse at Springvale in Bilston, West Midlands, in early 2026. Around 350 people will be affected by the warehouse closures. It will also stop selling frozen food at stores where it's currently offered and reduce its chilled food offer in the future. The warehouse closures are also linked to Poundland's plan to stop online sales through its website. Bosses said they expect the court proceedings for the restructuring to conclude in late summer. 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.' Last month, Poundland reported revenues dropped by 6.5% to 985 million euros (£830 million) for the six months to March, compared with a year earlier. The brand suffered 'challenges across all categories' and had 18 net store closures over the period.
