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Major discount retailer with 650 stores to close popular branch as clearance sale launched

Nearby stores in Didcot, Oxford, Abingdon, Witney and Banbury are still open, however two other UK stores will close in just days Chilwell in Nottingham (February 13) and Urmston (February 16)

[1_Poundland-restructuring.jpg]

Another branch is closing(Image: PA)

A major branch of one of the UK's most popular discount retailers is closing but a huge clearance sale will take place first. The branch on Market Street in Bicester will shut at the end of March.

According to the Oxford Mail, the reason for the closure is down to an inability to agree lease terms, and not as part of the wider restructuring of Poundland. A spokesperson for Poundland said: While our store restructuring programme has come to an end, weve been unable to agree lease terms in Bicester that would enable us to keep trading there.

Were disappointed thats the case and why last week we began a clearance sale ahead of the stores planned closure on March 29.

[A major branch will close]

A major branch will close(Image: PA)

Nearby stores in Didcot, Oxford, Abingdon, Witney and Banbury are still open, however two other UK stores will close in just days Chilwell in Nottingham (February 13) and Urmston (February 16).

Speaking about closures back in December, Poundlands UK country manager Darren MacDonald said: We know how disappointing it is when we leave a store, but before we close our doors for a final time, were determined to say goodbye by offering even more amazing value to customers.

The special reductions, on top of the value we provide in every store, will help us leave locations were leaving with pride.

And when we close our doors, we look forward to welcoming customers to one of the hundreds of Poundland stores well continue to operate right across the UK.

[Poundland was sold for 1 to investment firm Gordon Brothers in June]

Poundland was sold for 1 to investment firm Gordon Brothers in June(Image: Getty Images)

Poundland was sold for 1 to investment firm Gordon Brothers in June.

It avoided entering administration after a restructuring plan was approved in the High Court in August, days before the company was due to run out of money.

Recovery efforts since have focused on simplifying the business, including by cutting stores but also by overhauling its pricing structure.

It is returning to a simple 1, 2 and 3 grocery pricing across all its UK shops with around 60% of grocery items priced at 1.

Simple pricing is also being rolled out across general merchandise and clothing ranges.

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