Thu, 12 Jun 2025

Thu, 12 Jun 2025 Poundland sold for £1 with shops set to close

The BBC understands up to 100 of the brand's 825 UK stores could close as the new owners shake up the business.
Poundland, a struggling budget chain with 825 UK stores and 16,000 staff, has been sold for £1 by its owner Pepco to US investment firm Gordon Brothers. The sale comes after Pepco warned that increased employer National Insurance contributions would put added pressure on the chain, which has seen sales decline this January and February. As part of a proposed restructuring plan, up to 100 stores could close. Retail analyst Sofie Willmott attributed Poundland's struggles to consumers seeking better value elsewhere, while consumer expert Kate Hardcastle said the business model had failed to keep pace with market forces. Gordon Brothers will invest £80m in Poundland, including an existing loan and overdraft, and plans to "ensure exceptional value" for customers. The company will continue to operate under the Poundland brand in the UK and Dealz brand in other countries.
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