Update over poundland's future as 200 stores face closure and three shut in days

PEPCO SAID IT EXPECTS THE SALE OF POUNDLAND TO COMPLETE BY SEPTEMBER. 10:08, 22 May 2025 An update has been issued on the future of Poundland as up to 200 stores face closure with three

shutting in days. Pepco, which has branches in Birmingham, said it expects the sale of Poundland to complete by September. Bosses at the firm told investors the board "continues to

actively explore separation options for Poundland business with an exit expected by end of FY25." This would be at the end of the group's current finical year, which is due to

close in September. The brand also said it suffered “challenges across all categories” and had 18 net store closures over the period. The high street brand currently employs more than 16,000

people across the UK, as well as in Ireland, where it is known as Dealz. READ MORE UK FACES 27C HEATWAVE NEXT WEEK WITH 33 COUNTIES IN ENGLAND SET TO SIZZLE Hundreds of its stores could be

closed as Britain’s high streets take another blow. Article continues below Poundland’s owner Pepco Group could sell for a nominal fee owing to the amount of work needed to turn around its

troubled fortunes, with one source saying the price would be "effectively a pound". Turnaround Investors, which are firms specialising in buying struggling businesses in the hopes

of turning them around, are said to be interested in the retailer. This includes US based investor Gordon Brothers, the former owner of Laura Ashley, which are believed the current

frontrunners in the bidding war. Article continues below A Pepco Group spokesperson said: " As announced at the Capital Markets Day on 6 March, Pepco Group is moving away from FMCG to

create a simpler business focused on clothing and general merchandise, and is actively exploring separation options for Poundland, including a potential sale, from the Group. “With Barry

Williams’ re-appointment as Managing Director, Poundland is executing a turnaround programme to get the business back on track, focusing on its core heritage strengths, and a simpler pricing

proposition and customer offer.”