A further 12 branches of the troubled Poundland chain set to close with the branch in Southport town centre among them. Andrew Brown reports
Poundland in Southport will close at the end of this month, it has been revealed.
The Poundland store opened its doors inside the Southport Station concourse in October 2023, creating 10 jobs, Poundland secured an agreement with administrator PwC to take an option on a number of Wilko store leases.
However, in June owner Pepco Group sold the discount chain for £1 to Gordon Brothers after a downturn in sales. The new owners now intend to implement a management-led turnaround plan supported by an £80m financing package.
In the last few days it has confirmed Southport will be among a further 12 stores that will close under its restructuring and recovery plan designed to return the business to growth.
Colleagues at these locations earmarked for closure under the recovery plan were informed of their store’s status in June and Poundland has this week completed briefing colleagues on a specific closing date for a further 12 sites.
The following stores will close to customers on August 31: Blackburn, Cookstown, Erdington, Kimberley, Horsham, Hull Holderness, Irvine, Kettering, Omagh, Shepherds Bush, Southport and Taunton.
This restructuring and recovery plan which launched in June, is intended to refocus and simplify the business after an extended period of under-performance and deliver a financially sustainable operating model.
It includes the closure of 68 stores and, alongside other closures linked to lease expirations, in time, means Poundland expects to operate a network of around 650-700 stores compared to around 800 today.
In the last two weeks Poundland announced the locations of 37 stores that have confirmed August closure dates alongside three that had already closed.
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Poundland’s retail director Darren MacDonald re-confirmed the closure programme has the intention of securing the future of thousands of jobs and hundreds of stores.
“When a store nearby closes, we understand how disappointing that is for customers, but nevertheless look forward to welcoming them to another Poundland store in the future,” he said.
“Work is underway with colleagues through a formal consultation process in stores scheduled to close, exploring any suitable alternative roles.”