Poundland points retailer closures replace after axing 2,200 jobs

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Your help makes all of the distinction. Learn extra Poundland has introduced the completion of a sweeping restructure that noticed the low cost retailer shut almost 150 outlets and axe 2,200 jobs, although it concedes there stays "a lot to do" to stabilise the enterprise.

The troubled chain, which secured Excessive Court docket approval for its restructuring plan final August, confirmed it concluded the 12 months with 651 websites, a major discount from roughly 800 shops previous to the overhaul.

Its workforce additionally diminished from 14,200 to round 12,000 by the top of final 12 months.

The intensive revamp additionally concerned the closure of two of its 4 warehouses, situated in Darton, South Yorkshire, and Springvale in Bilston, West Midlands.

Moreover, its customer support centre in Walsall, additionally within the West Midlands, underwent a reorganisation.

In an replace issued on Friday, Poundland acknowledged that the large-scale store closures are actually concluded.

The corporate clarified: "Any future closures will probably be a consequence of ordinary business-as-usual lease occasions anticipated at a retailer with a big retailer community."

<img src="https://static.independent.co.uk/2025/12/05/12/c231532e4aba5ee0caf62f3a024ee8feY29udGVudHNlYXJjaGFwaSwxNzY1MDIxMTE2-2.80614959.jpg" srcset="https://static.independent.co.uk/2025/12/05/12/c231532e4aba5ee0caf62f3a024ee8feY29udGVudHNlYXJjaGFwaSwxNzY1MDIxMTE2-2.80614959.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/12/05/12/c231532e4aba5ee0caf62f3a024ee8feY29udGVudHNlYXJjaGFwaSwxNzY1MDIxMTE2-2.80614959.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="The discount retailer’s workforce also diminished from 14,200 to around 12,000 by the end of last year" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

The low cost retailer’s workforce additionally diminished from 14,200 to round 12,000 by the top of final 12 months (PA Wire) Christmas buying and selling figures revealed a 2.9 per cent drop in like-for-like underlying gross sales for the quarter ending 28 December.

This decline was attributed to the retailer's technique of slashing costs to return to its core low cost roots, a transfer that noticed comparable retailer gross sales by quantity carry by 2 per cent.

Underlying earnings in its first quarter rose £8.4 million to £17.3 million, in keeping with its expectations.

Poundland managing director Barry Williams stated: “Whereas there’s been vital progress as we refocus and re-energise the enterprise with decrease costs and a sharper provide, we all know we nonetheless have a lot to do.

“Our concentrate on our prices has, doubtless, given us a platform for future progress, however no sustainable turnaround may be primarily based on value administration alone.

“That’s why our focus in 2026 will probably be on delivering the type of ranges and value simplicity our clients need proper throughout the shop – in clothes, homewares, in addition to our core grocery aisles.”

<img src="https://static.independent.co.uk/2025/06/17/11/b5f43d8153ceb307b179701a4005abe8Y29udGVudHNlYXJjaGFwaSwxNzUwMjQxNzEw-2.50892775.jpg" srcset="https://static.independent.co.uk/2025/06/17/11/b5f43d8153ceb307b179701a4005abe8Y29udGVudHNlYXJjaGFwaSwxNzUwMjQxNzEw-2.50892775.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/06/17/11/b5f43d8153ceb307b179701a4005abe8Y29udGVudHNlYXJjaGFwaSwxNzUwMjQxNzEw-2.50892775.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Recovery efforts since have focused on simplifying the business, including by cutting stores but also by overhauling its pricing structure and removing some categories, such as frozen foods and some chilled ranges, as well as ditching its online offering" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Restoration efforts since have targeted on simplifying the enterprise, together with by reducing shops but additionally by overhauling its pricing construction and eradicating some classes, corresponding to frozen meals and a few chilled ranges, in addition to ditching its on-line providing (PA Media) Poundland was bought for £1 to funding agency Gordon Brothers in June final 12 months.

It averted coming into administration after a restructuring plan was authorised within the Excessive Court docket in August, days earlier than the corporate was resulting from run out of cash.

Restoration efforts since have targeted on simplifying the enterprise, together with by reducing shops but additionally by overhauling its pricing construction and eradicating some classes, corresponding to frozen meals and a few chilled ranges, in addition to ditching its on-line providing.

It's returning to a easy £1, £2 and £3 grocery pricing throughout all its UK outlets – with round 60 per cent of grocery gadgets priced at £1.

The group is relaunching in-house designed Pep&Co clothes to its UK and Eire shops, with 90 per cent of things priced under £10 to be obtainable from subsequent week.