• [Dailystar Icon]
• News
• UK News
• Poundland

Poundland shuts down 11 stores to avoid 'running out of money' - full list

It is part of a major restructuring plan

[Poundland store exterior]

Poundland is cutting costs in a bid to survive(Image: Liam McBurney/PA)

Poundland has closed an additional 11 stores across the UK. It is part of a major restructuring plan, which aims to axe 65 stores from the high streets by the end of the year. The move came on August 31, days after the High Court approved its restructuring plan.

As a result, 65 shops will vanish from Britain's high streets by the close of 2025. Outlets in Birmingham and Nottingham shut their doors permanently following the High Court decision on August 26, when barristers argued it risked falling into administration by September 7. Other stores that have now closed include Taunton in Somerset and one in the retail destination of Shepherd's Bush in West London.

The discount chain, formerly owned by Pepco, was acquired by a US investment firm for 1 this summer. The new owners, who previously owned Laura Ashley, unveiled a significant restructuring plan, which received High Court approval on August 26.

The move comes after warnings that Poundland was "running out of money". Further store closures may be on the horizon as the brand seeks to negotiate rent reductions and lease terminations.

In addition to store closures, Poundland is also expected to shut its distribution centre in Darton, South Yorkshire, and its national distribution centre in Bilston, West Midlands, in early 2026. Despite these changes, Pepco maintains that this does not signal the end for Poundland.

Despite being a major player in the UK's discount retail sector, serving millions of customers each year, Poundland has admitted that its performance has not been up to scratch. The Express reports that the store "remains a key player in UK discount retail, with millions of customers annually and a well-loved brand and proposition".

However, Poundland's managing director, Barry Williams, conceded: "While Poundland remains a strong brand, serving 20m-plus shoppers each year, our performance for a significant period has fallen short of our high standards and action is needed to enable the business to return to growth."

In an attempt to get back on track, Poundland has revealed plans to roll out a simplified 1, 2, 3 pricing structure across its UK stores, effectively returning "back to its roots". Following a successful trial at 17 West Midlands branches, the new pricing system will be gradually introduced nationwide.

The trial locations saw significant cost reductions and a refocus on customer favourites. It is reported that over 60% of grocery items were priced at just 1.

Before the closures, Poundland employed over 16,000 staff across 792 locations in the UK and Ireland. However, due to store closures and lease expirations, The Mirror suggests that the company's property portfolio could shrink to between 650 and 700.

Here's the full list of Poundland closures as of August 31.

• Blackburn, Lancashire
• Cookstown, Northern Ireland
• Birmingham
• Nottingham
• Horsham, West Sussex
• Hull, Yorkshire
• Kettering, Northamptonshire
• Omagh, Northern Ireland
• Shepherds Bush, London
• Southport, Merseyside
• Taunton

[Dailystar Icon]

ENJOYED THIS STORY?

Choose Daily Star as a 'Preferred Source' on Google News for quick access to the news you value.