Poundland confirms major price changes amid store closures
This change, which will see that approximately 60 percent of the grocery range is priced as £ 1, is watching a five -month successful attempt in 17 stores in West Midlands.
The company said that the change has “returned to its roots” and said that “additional price complexity has ended” with similar simplified pricing planned for general goods and clothing in the coming months.
An unexpected benefit of the hearing, a significant decrease in theft, events decreased more than a quarter.
This has been attributed to the removal of higher priced products such as 5 £ dishwasher tablets, which are attractive targets for thieves.
The pricing revision constitutes an important part of Poundland’s wider recovery efforts, which has safely sees the Supreme Court’s approval for a large restructuring plan, and prevents the collapse of the funds only days ago.
The plan will inject the new capital up to £ 60 million, but requires the closure of 68 stores and affects about 1,000 employees.
Poundland General Manager Barry Williams said: “Customers told us that it was loud and clear during these pilots, and they will support a simpler, more focused Poundland that preserves the promise of incredible value.
“We heard them and the open success of our pilot is that a Poundland focuses on the simple value that our customers expects.”
Poundland will also offer a re -focused grocery range as well as pricing revision.
Already extended to five stores except Manchester, Liverpool, Hanley, Brixton and West Midlands in Wandsworth.
When Poundland is completed, approximately 60 percent of grocery products will be £ 1, 20% is £ 2 and 20 percent will be 3 £ 3.
Founded in 1990 in Burton Upon Trent, Staffordshire, the company was sold to Peach Bidco, a subsidiary of Pepco Group, a subsidiary of Gordon Brothers, for £ 1 in June.
At that time, there were about 14,700 staff and operated about 800 stores.
