Overview

• On August 10, Poundland permanently closed 10 underperforming outlets in the first wave of its restructuring programme.
• The retailer has confirmed around 52 additional branches will shut between August 17 and mid-September under the June-announced recovery plan.
• Gordon Brothers committed up to £80 million in financing and secured High Court approval for a network reduction from roughly 800 to 650–700 stores.
• Formal consultations are now under way to explore alternative roles for affected colleagues as part of wider cost-cutting measures.
• Deep-discount clearance sales, including hundreds of items at 10p, have been launched to clear inventory ahead of upcoming closures.