Poundland set to close store as '200 more at risk of shutting their doors'

A SPOKESPERSON FOR THE BUDGET RETAILER CONFIRMED THE 'SAD' CLOSURE LATER THIS SUMMER STATING THAT THEY WERE 'UNABLE TO AGREE THE TERMS' NEEDED TO KEEP THE SHOP OPEN

19:14, 03 Jun 2025 Devastated shoppers have launched an appeal to save yet another Poundland branch that is set to close for good. The Newquay outlet on Bank Street in Cornwall is facing the

axe on August 1, with potentially hundreds more following suit. The announcement has since sparked an online petition to rescue the seaside shop. The brains behind it, Sharon Gill, said

that Poundland provides many locals who aren't able to travel to nearby towns with everyday necessities. She wrote: "Many residents count on Poundland for their everyday needs. The

reality for most of us is that we don't have the luxury of a car to travel to nearby towns. "The nearest alternatives in St Austell or Truro are inconveniently far away, and

public transport means hours of commute for essentials that should be easily accessible." One person replied that the bargain shop was "the only thing worth visiting Newquay

for" as others complained that additional branches were too far away to get to. Article continues below "This store provides everything most people could want and having to travel

to the nearest one at 14-16 miles away is a lot especially on public transport when its an essential store that should be on the high street especially Newquay," said one shopper. A

Poundland spokesperson confirmed the disheartening news: "It's correct our Newquay store is sadly set to close on 1 August as we've been unable to agree terms that would allow

us to keep trading there. "We'd obviously like to thank customers for their continued support over the next couple of months. It goes without saying whenever we close a store in

circumstances like these, we do all we can to look for other opportunities for colleagues and that work is now underway." Poundland's future hangs in the balance as parent company

Pepco Group announced in March that it's looking to flog the bargain chain, reports the Mirror. Last month, Pepco updated investors saying it "continues to actively explore

separation options for Poundland business with an exit expected by end of FY25." Based on this it appears that Poundland is aiming to seal a deal by the close of its current financial

year, which ends in September. While reports suggest that a massive 200 underperforming Poundland shops could close as part of a rescue plan to keep the retailer afloat. The discount giant

shut six stores in May, including Chiswick High Road in London. Pepco's boss Stephan Borchert said: "At Poundland, trading remains challenging, which is reflected in a profit

outturn below expectations for H1 and a weaker outlook for the full year. "Barry Williams, who was reappointed as Poundland managing director in March 2025, and his team are actively

driving a recovery plan to help turn around the business by refocusing on its traditional core strengths." Article continues below FOR THE LATEST BREAKING NEWS AND STORIES FROM ACROSS

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