Poundland has undergone significant store closures recently as part of a major overhaul following its acquisition by an investment firm for a nominal fee. The budget retail chain, which previously operated 800 stores, anticipates reducing its footprint to approximately 650 to 700 outlets by shutting down some stores and allowing leases to expire.
The closures are ongoing, with 23 stores slated for closure in the autumn and clearance sales offering discounts of up to 40%. Some of the affected locations include Burnley, Leicester, and Glasgow. Despite initial plans to close its Livingston store on October 12, Poundland has renegotiated terms with the landlord, keeping the store open.
In response to public feedback, Poundland has rescinded 11 of the planned closures. The company is also introducing a simplified pricing structure of £1, £2, and £3 for its products, with approximately 60% priced at £1, 20% at £2, and 20% at £3. Additionally, Poundland has revamped its website to provide product browsing only, discontinuing online purchasing.
Furthermore, Poundland has terminated its loyalty app, Poundland Perks, although customers can redeem any outstanding vouchers until January 15, 2026. Retail director Darren MacDonald expressed gratitude to customers and emphasized the commitment to offering exceptional value. Poundland aims to maintain operations in hundreds of stores across the UK despite the closures.
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