Overview

• The chain will close its Surrey Quays store on June 11, a Cowes outlet in July and its Bank Street, Newquay shop on August 1.
• Pepco Group appointed Barry Williams to lead a turnaround programme aimed at simplifying Poundland’s operations and boosting margins.
• Formal bidding opened last week with Gordon Brothers and Hilco Capital emerging as potential buyers in a sale valuing the brand at roughly £1 per share.
• Up to 200 outlets remain at risk of closure under the rescue plan before the sale finalises in September.
• UK retail is under pressure from higher employment costs and shifting consumer habits, with the Centre for Retail Research forecasting over 17,000 site closures this year.