Poundland has received High Court approval for a restructuring plan aimed at stabilising the retailer and supporting a broader turnaround strategy. The plan allows the company to continue trading while implementing measures to address financial pressures and operational inefficiencies.
The restructuring includes the closure of 68 stores, consolidation of two distribution centres in Darton and Springvale into hubs in Wigan and Harlow, and simplification of its product range, with chilled food limited to essentials and frozen food removed from most outlets. The retailer will also streamline its digital presence, converting its website to a brand-only platform and retiring the Perks app.
The turnaround is supported by a £90m cash injection from parent company Gordon Brothers, which acquired Poundland in June 2025. Funding is directed towards reducing high costs, addressing unprofitable locations, and resolving operational challenges across the business.
The court-approved plan ensures Poundland can implement its recovery measures while maintaining operations, targeting a streamlined network of roughly 650 to 700 stores and a simplified, more focused offering for customers.
