Overview

• Judge Sir Alastair Norris sanctioned the restructuring after court filings warned Poundland would run out of cash in the week ending September 7 if the plan failed, with administration likely by Friday.
• The deal unlocks up to £60 million of additional funding on top of £30 million already injected, alongside a £30 million overdraft, extended loan maturities to 2028 and selected rent reductions.
• The company will proceed with a programme of closures, targeting a reduction from roughly 800 stores to 650–700, including 11 sites shutting on August 31 and Irvine closing on September 14, with authority to end leases early.
• Operational changes include shutting the Darton frozen and digital hub later this year and the Springvale, Bilston warehouse early next year, ending online sales, and placing about 1,000 store roles and roughly 350 warehouse jobs at risk.
• Poundland is simplifying its offer to three price points — £1, £2 and £3 — with about 65% of products at £1, part of a broader effort to cut complexity and costs.