Overview

• Sir Alastair Norris sanctioned the restructuring plan, with a written judgment to follow, after no creditors opposed the proposal.
• The deal releases up to £60 million in new support on top of £30 million already injected, adds a £30 million overdraft facility, and extends loan repayments to 2028.
• Poundland will press on with estate cuts, including 11 store closures on August 31 and Irvine on September 14, with legal scope to exit leases earlier.
• The network is set to shrink from about 800 sites to roughly 650–700, placing around 1,000 store roles and about 350 distribution jobs at risk as Darton and Springvale depots shut and online sales end.
• Operational changes include a simplified three-price structure of £1, £2 and £3, with about 65% of items at £1, alongside tighter product ranges and fewer promotions.