Finance
Britain's Poundland to close 68 stores in restructuring plan
Published by Global Banking & Finance Review®
Posted on June 17, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 17, 2025
2 min readLast updated: January 23, 2026
Poundland plans to close 68 stores in a restructuring effort, with Gordon Brothers investing £80 million. The plan includes rent reductions and exiting frozen food sales.
(Reuters) -A restructuring plan proposed by struggling British discount retailer Poundland will see the closure of 68 stores and rent reductions across other locations, it said on Tuesday.
Last week, Warsaw-listed Pepco Group sold the Poundland business to Gordon Brothers for a nominal sum, with the buyer pledging to invest 80 million pounds ($108 million) to drive a recovery.
Poundland said the restructuring plan, which requires court approval, would, over time, result in a network of 650 to 700 stores.
The discounter currently operates from around 800 stores in the UK and Ireland, where it trades as Dealz. It employs about 16,000 people.
Other elements of the plan include Poundland withdrawing from the sale of frozen food, a reduced chilled food offer, converting Poundland.co.uk from a transactional website to a brand website, and adding a greater depth of womenswear items to stores.
Poundland also plans to close its frozen and digital distribution centre at Darton, northern England, later this year and its national distribution centre at Bilston, central England, in early 2026.
It said impacted creditors had been contacted to inform them of the plan, with the court timetable expected to conclude in late summer.
“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," Barry Williams, managing director of Poundland, said.
He added that if the plan was approved "we will do all we can to support colleagues who will be directly affected".
($1 = 0.7378 pounds)
(Reporting by James Davey in London and Yamini Kalia in Bengaluru; Editing by Tasim Zahid and Alison Williams)
Poundland plans to close 68 stores as part of its restructuring plan.
The restructuring is necessary to secure the future of thousands of jobs and ensure the company's recovery.
Poundland was sold to Gordon Brothers for a nominal sum by Pepco Group.
Poundland will withdraw from selling frozen food and reduce its chilled food offerings.
If approved, the plan aims to reduce the store network to between 650 and 700 locations over time.
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