Poundland has reversed its decision to close a store, much to the joy of customers. The discount retailer is currently in the process of shutting down 68 branches after being acquired by investment firm Gordon Brothers for a nominal fee. The Irvine store in Scotland was originally set to close on September 14 but Poundland has now confirmed that it will remain open indefinitely.
Situated in the Rivergate Shopping Centre, the Irvine store was met with positive reactions from shoppers upon hearing the news of its continued operation. A Poundland spokesperson expressed gratitude for the patience shown by customers and staff during the uncertainty.
Since August, Poundland has already shut down or planned to close 57 stores as part of its restructuring efforts. The retailer, which had about 800 stores before the acquisition, anticipates reducing its store count to between 650 and 700 following the latest closures and lease expirations.
In addition to store closures, Poundland will also shut down its distribution center in Darton, South Yorkshire, and its national distribution center in Bilston, West Midlands by early 2026. The company is implementing a new simplified pricing structure of £1, £2, and £3 in UK stores to return to its core value proposition. This new pricing strategy will be gradually introduced across all UK stores by September, following a successful trial in the West Midlands.
The trial stores experienced significant price reductions and a refocus on popular customer items, with over 60% of grocery products priced at £1. This move aligns with Poundland’s aim to streamline operations and reinforce its value-driven approach to retail.