Overview

• The online clearance features hundreds of deeply discounted items starting at 10p, from party banners to homeware, with orders over £50 qualifying for free delivery.
• Under a High Court-sanctioned restructuring, Poundland will close 10 stores on August 10, 15 on August 17 and 12 on August 24 as part of plans to shrink its estate to 650–700 outlets by mid-October.
• The turnaround strategy also calls for ending online sales after the clearance event, phasing out frozen foods and scaling back chilled ranges in its remaining shops.
• In June, US investment firm Gordon Brothers acquired Poundland for £1 and committed £80 million to fund a court-backed recovery plan focused on cost cuts and operational streamlining.
• Poundland’s leadership says the closures and product range cuts are regrettable but essential to safeguard thousands of jobs and secure the chain’s future.