Overview

• The recovery plan, launched after Gordon Brothers acquired Poundland for a nominal £1 in June, is backed by an £80 million financing commitment.
• Poundland has shuttered 13 of the 68 underperforming stores, including ten closures on August 10, as part of its phased reductions.
• Published lists on August 12–13 identified about 49 outlets set to close this month and confirmed 52 of the 68 targeted sites overall.
• Operational measures include ending online sales and the Perks loyalty app, removing frozen products and consolidating distribution from Wigan and Harlow.
• The chain has begun formal staff consultations that put over 1,000 jobs at risk as the proposals await creditor vote and High Court sanction on August 26.