Major high street chain with 800 stores closes shop in UK town

A major high-street chain will permanently close a UK shop today. The closure is part of a wider restructuring plan that will see 68 stores and two warehouses shut, putting 1,300 jobs at risk.

The Poundland store in Abergavenny, South Wales, will close its doors for the final time at 5.30pm today, Saturday, September 27. Bosses are in discussion with employees at the shop to help them "explore other options". A spokesperson said the shop is closing as its lease is coming to an end.

The budget retailer was taken over by investment firm Gordon Brothers in June. There are currently around 800 Poundland stores in the UK, but this number is expected to drop to around 650 following their restructuring plan.

Poundland's retail director, Darren MacDonald, said: "It is, of course, sincerely regrettable that our recovery plans include any store closures, but sadly that's necessary if we're to achieve our goal of securing the future of thousands of jobs and hundreds of stores.

"While our anticipated network of around 650-700 stores remains a sizeable one, we entirely understand how disappointing it will be for customers when one nearby, closes. Nevertheless, we look forward to continuing to welcome them to a nearby Poundland.

"It goes without saying that we will work closely with colleagues through a formal consultation process in stores scheduled to close, exploring any suitable alternative roles. That work is underway."

Poundland has confirmed the closure of 57 sites so far. However, the closure of the remaining 11 have been put on hold for the timebeing.

Elsewhere in the UK, the Poundland store at Irvine Rivergate Centre, which was due to shut two weeks ago, has now been reopened. The planned closure of stores in Brighton and Anniesland have also been put on hold.

Poundland's managing director, Barry Williams, said: "We're determined to deliver a simpler, more focused Poundland that keeps its promise of amazing value to customers."