POUNDLAND is set to close multiple stores next month, while its owner continues to search for a buyer to rescue the ailing brand.
Three shops are scheduled to before the end of May, with an additional store also set to shut its doors, though its exact closing date remains uncertain.
The Poundland branch located at will be the first to cease trading, closing for good on Friday, May 2.
A closing down sign posted inside the shop read: “We're closing May 2.
“Don't worry, we have another great store in the Southside Shopping Centre near Specsavers.”
A Poundland spokesperson addes: “We know how disappointing our closure at Clapham Junction will be to customers and we looking forward to welcoming them to our store nearby at the Southside shopping centre in Wandsworth.”
It draws a line under a near three year stint in the busytrain station, having first opened back in 2022.
Pepco, the parent company of Poundland, previously confirmed toFlying Ezethat it will also be closing a .
Meanwhile, Poundland is preparing to close its store in Brackla, .
The , giving shoppers just over a month to bid farewell.
In another setback for high street shoppers, Poundland is also in Gravesend, .
However, the retailer has yet to confirm the exact date of the closure.
Just last month, Poundland was forced to shut its after the Connswater Shopping Centre was placed into receivership.
The store closed its doors at the end of March, following a major closing-down sale.
Back in October, residents of Maidenhead were similarly dismayed when .
This came in addition to other closures, including its Sutton Coldfield store on October 5 and the , the latter closing due to the inability to secure a new lease agreement.
It's important to remember that retailers often open and close stores for a variety of reasons, and these decisions don't necessarily reflect financial difficulties.
For instance, a retailer may choose to close a shop if there’s another nearby location that performs better, or they might relocate to a site with higher footfall, such as a busy retail park.
Alternatively, they may decide to shift their focus entirely to online operations.
Therefore, store closures alone are not always a reliable indicator of a business's financial .
What is happening at Poundland?
Last month, Poundland's parent company, Pepco, enlisted advisory firm Teneo to oversee the potential sale of its UK .
This decision follows Pepco's announcement that it is exploring “all strategic options” to .
The Polish-based group has hinted that it may shift its focus towards its more profitable operations across .
Pepco previously warned that rising costs, including increases to employer national insurance contributions (NICs) and the national minimum wage, will significantly impact its bottom line.
Late last year, it was revealed that Poundland's profits had .
Executives attributed the decline to sluggish sales and a bleak outlook, compounded by measures introduced by Chancellor Rachel Reeves.
A spokesperson also said the huge loss was “due to a non-cash impairment at Poundland that relates to the acquisition of the UK chain in 2016”.
This essentially means the business's value has dropped due to expectations of reduced future cash flows.
More recently, Poundland for the three months ending in December, adding further strain to the troubled retailer.
