Poundland halts store closures amid restructuring plan

Poundland has revealed that it has paused its store closure programme after the implementation of its restructuring plan.

It has so far announced the closure of 57 stores but has now brought that programme to a conclusion with the remaining 11 closures put on hold.

Poundland’s Irvine Rivergate Centre location, which had been due to close permanently on 14 September, has now re-opened after re-stocking. Closures planned for October in Brighton (London Road) and Anniesland (Great Western Road) have also been put on hold.

Despite this, there has been no change to the original plan that once some leases expire the company would like to run a portfolio of 650-700 stores compared to the circa 800 it currently has.

As part of its restructuring plan Poundland revealed that it has transitioned its website to become browsing only rather than a transactional website and closed its Perks app as part of its simplification programme.

The company is also rolling out new pricing to its grocery aisles, adding new categories that will, by the end of the month, see FMCG ranges anchored around a simple £1, £2, and £3 offer.

In the coming months Poundland will extend its new pricing simplicity to its general merchandise and clothing ranges, offering fewer price points and more focused ranges.

Barry Williams, managing director, said: “We’re determined to deliver a simpler, more focused Poundland that keeps its promise of amazing value to customers. We appreciate the support we’ve had from suppliers, landlords and other partners who’ve now all been fully briefed on our plans to get us back on track. While there is much work to do, I’m confident that a Poundland focused on the simple value our customers expect, has a bright future.”