Poundland confirms closing date of its last store in UK seaside town | UK | News
Poundland confirmed the closing date for the final store in a popular UK coastal town. Closing sales will be a major blow to the Lowestoft store in the city center and the local street. It will offer 30% discount on everything advertised in windows. The closing date was approved on October 10 when the rental period expired. Lowestoft’s Poundland store in North Quay Retail Park stopped trading last May.
A Poundland spokesman said: “Lowestoft, although not one of the 57 stores planned to be closed under our restructuring plan, we said that we have employed a store network consisting of 650-700 stores over time, as long as the restructuring process is expired or under the process of working under the process of a landlord.
After a significant decrease in profit, Poundland was sold by Pepco to Gordon Brothers for £ 1 in June.
In accordance with the restructuring plan, it is reported that about 1000 jobs have disappeared. Retailer employs 14,700 personnel.
The restructuring plan was approved by the Supreme Court last month and saved the competing retailer from collapse only days before being free.
This also showed a major change in online assets and customer loyalty strategies. As of September 16, shoppers no longer purchase products from the website and the company’s loyalty program Poundland PERKS was stopped.
Full List of Scheduled Store Closing:
- Abergavenny (not part of the rental time and restructuring) – 27 September
- HAVANT – 28 September
- Newport, Shropshire – 28 September
- Ripley, Derbyshire – September 28
- Swanley – 28 September
- UTTOXETER – September 28
- Partick, Glasgow – September 28
- Liscard (not a part of the rental time and restructuring) – October 1
- Lowestoft (Rental is not part of the expiration time and restructuring) – October 10
