Poundland closing another store 'with 200 more at risk of being shut'

Poundland closing another store 'with 200 more at risk of being shut' Newspoint | 03/06/2025 23:39:16

Poundland has announced it is closing another of its shops. The discount chain will say goodbye to its branch on Bank Street, Newquay, on August 1.

Devastated shoppers have launched an online petition to try and save the store. Sharon Gill, who launched the petition, 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."

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In one reply to the petition, one shopper said was "the only thing worth visiting Newquay for" while others also commented on how far away its other branches are.

One person said: "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."

A spokesperson for Poundland said: "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."

It comes after Pepco Group, the parent company, of Poundland, announced it was putting the discount chain up for sale in March this year. In a further update last month, Pepco Group told investors that the company "continues to actively explore separation options for Poundland business with an exit expected by end of FY25".

This indicates that Poundland expects the deal to be done by the end of its current financial year, which closes in September. It has been reported that 200 loss-making Poundland stores could close as part of a rescue deal to save the retailer.

Poundland closed six stores in May, with the final branch being its store in Chiswick, High Road in London, which closed on May 28. Commenting on the future of Poundland, Stephan Borchert, chief executive of Pepco, 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.”