Poundland news and archive

Poundland slashes head office jobs as it simplifies structure

Weeks after the High Court approved its restructuring, Poundland is officially moving forward with its transformation plan. The budget retailer has confirmed a number of job cuts across its head office as part of efforts to simplify the business structure. Speaking to Retail Week, a spokesperson for the company said that it had proposed removing...

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From New Look to Select Fashion: Inside the retail collapse threatening the UK high street

The UK retail landscape continues to face mounting challenges. Amid rising operational costs, the long-tail impact of the pandemic and ongoing supply chain disruptions, many businesses are navigating an increasingly volatile environment. An uncertain outlook remains for a significant portion of the sector – and the country is on track to see a...

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Poundland to close 68 stores as part of restructuring under new owner

Days after its takeover by Gordon Brothers, Poundland has confirmed the closure of 68 stores as part of a court-sanctioned restructuring. The company is expected to maintain between 650 and 700 stores across the UK, down from its approximately 800 existing locations. Poundland has further stated that its frozen and digital distribution centre in...

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Gordon Brothers snaps up Poundland, to inject 80 million pounds into turnaround

Restructuring and investment firm Gordon Brothers has emerged as the buyer of Poundland. As a result, the British budget retailer will receive an 80 million pound financing boost to back a ‘Proposed Restructuring’, agreed on by all three parties, including former owner Pepco Group. Details on this plan are expected to be shared by Poundland in “...

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Poundland eyeing mass store closures amid ongoing turnaround plan

Poundland is said to be mulling the closure of between 150 and 200 stores amid an ongoing turnaround plan being carried out as its sales process continues. According to the Telegraph, the budget retailer is also eyeing up to 500 sites for rent cuts, with a plan to impose rent reductions on landlords between 10 and 50 percent. Other agreements...

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Pepco Group: Poundland poses further problems in first half

Retail group Pepco Group NV increased its sales in the first half of 2024/25, but faced further difficulties with the Poundland retail chain. In the six months to March 31, the discounter generated sales of 3.3 billion euros, according to preliminary figures published on Thursday. This represents growth of 4.3 percent compared to the same period...

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Pepco Group to spin off Poundland, focus on Pepco brand

To pivot away from its FMCG-reliant segments, Pepco Group intends to actively evaluate all strategic options for separating Poundland from the Group during FY25, including a potential sale, while concurrently managing Dealz Poland to optimize its value in the medium term. This strategic shift is motivated by the financial drag exerted by the...

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Pepco chair exits as new governance changes are prepared

Andy Bond, the chairman of Pepco Group, has announced his intention to step down from the budget retail conglomerate following the company’s upcoming AGM on 12 March. Bond’s departure comes after 13 years with Pepco, which then revealed that Frederick Arnold was to be his successor. Arnold is currently a non-executive director at the company,...

People

Former Poundland MD to return as Pepco reviews business

Barry Williams, the former managing director of Poundland, is understood to have returned to the board of the struggling budget retail chain as its parent company, Pepco Group, reviews the business. According to a report by The Grocer, Williams is believed to have taken up a supervisory role on an interim basis to run a “comprehensive assessment...

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Pepco reportedly calls in advisors to explore ‘radical options’ for Poundland

Pepco Group, the Polish owner of budget store chain Poundland, is believed to have appointed advisory firm AlixPartners to address an ongoing sales slump at the firm. According to Sky News, Pepco has hired consultants to explore “radical options” for Poundland, with a formal restructuring plan or a potential sale of the business said to be among...

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Poundland Struggles in Q3; Pepco Group plans revival

European discount retailer Pepco Group delivered first quarter revenue of 1.9 billion euros, with constant currency growth of 3 percent versus last year. However, LFL revenues declined 1.1 percent, with a positive performance from both Pepco and Dealz offset by continued challenges in the Poundland business. In December the company’s CEO Stephan...

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Pepco mulls strategic options for struggling Poundland

Following a lacklustre financial year at Poundland, the UK discount retailer has now come under the lens of its parent company, Pepco Group, which is hoping to initiate a turnaround in its performance. Speaking to Reuters, Pepco’s new chief executive officer, Stephan Borchert, said the company was looking into “every strategic option” for the...