Discount retail chain said it planned to permanently shut 68 shops after being sold by Pepco Group to Peach Bidco
Poundland is to push ahead with more store closures after receiving court approval for a major restructuring plan.
In June, the discount retail chain said it planned to permanently shut 68 shops after being sold by Pepco Group to Peach Bidco, a subsidiary of private equity firm Gordon Brothers, for £1.
On Tuesday, the company told a judge that the plan would save it from entering administration, with barristers telling a hearing on Tuesday that it was set to run out of money by September 7 if the scheme had not been sanctioned.
The group has already shut dozens of stores but will now be able to end these leases early and push ahead with further closures.
These are the stores set to be closed on Sunday August 31:
Blackburn, Lancashire
Cookstown, Northern Ireland
Erdington, West Midlands
Kimberley Nottingham, Nottinghamshire
Horsham, West Sussex
Hull Kingston retail park, East Yorkshire
Kettering, Northamptonshire
Omagh, Northern Ireland
Shepherd’s Bush, Greater London
Southport, Merseyside
Taunton, Somerset
This store will shut on September 14:
Irvine, Scotland
The following stores have already closed:
Ammanford, Wales
Birmingham Fort Shopping Park, West Midlands
Cardiff, Wales
Cramlington, Northumberland
Leicester, Leicestershire
Long Eaton, Nottinghamshire
Port Glasgow, Scotland
Seaham, County Durham
Shrewsbury, Shropshire
Tunbridge Wells, Kent
Bedford, Bedfordshire
Bidston Moss, Merseyside
Broxburn, Scotland
Craigavon, Northern Ireland
Dartmouth, Devon
East Dulwich, Greater London
Falmouth, Cornwall
Hull St Andrew retail park, East Yorkshire
Newtownabbey, Northern Ireland
Perth, Scotland
Poole, Dorset
Sunderland Pallion retail park, Tyne and Wear
Stafford, Staffordshire
Thornaby, North Yorkshire
Worcester, Worcestershire
Brigg, North Lincolnshire
Canterbury, Kent
Coventry Hertford Street, West Midlands
Newcastle Killingworth Centre, Tyne and Wear
Kings Heath, West Midlands
Peterborough Orton Gate shopping centre, Cambridgeshire
Peterlee, County Durham
Rainham, Kent
Salford, Greater Manchester
Sheldon, West Midlands
Wells, Somerset
Whitechapel, Greater London
Swiss Cottage, Greater London
Southampton West Quay, Hampshire
Chiswick, Greater London
Poundland said it will shut down 16 more stores but has not yet identified their locations.
It is understood that the closure dates for these are likely to be announced later in the year, when store workers will be informed.
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