Poundland confirms Shrewsbury store among 25 locations set to close under its restructuring plan

The plan, launched in June, aims to "refocus and simplify" the business after an extended period of under-performance and deliver a financially sustainable operating model, bosses at the discount chain said.

The plan includes the closure of 68 stores, plus other closures linked to lease expirations.

Bosses at Poundland said the restructuring is expected to leave the business with a network of around 650 to 700 stores compared to around 800 currently.

Colleagues at stores earmarked for closure under the recovery plan were informed of their store’s status in June, a statement issued today (Friday, July 18) said, and Poundland has this week finished briefing colleagues on specific closing dates for the first 25 locations.

The Poundland store in the Darwin Shopping Centre in Shrewsbury is among those closing on August 10.

Full list of stores closing on August 10:

• Ammanford Unit A3, Carregaman Road, Ammanford, SA18 3ED

• Cardiff Valegate Valegate Retail Park, Copthorne Way, Cardiff, CF5 6EH

• Cramlington Manors Walk Shopping Mall, Cramlington, NE23 6UT

• Leicester 2 Charles Street, Epic House, Leicester, LE1 3JA

• Long Eaton Chapel Street, Long Eaton, Nottinghamshire, NG10 1EQ

• Port Glasgow Gallagher Shopping Park, Port Glasgow, PA14 5DX

• Seaham Unit 4 Byron Place, Seaham, SR7 7DR

• Shrewsbury Unit 4 Level 3 Darwin Shopping Centre, Shrewsbury, SY1 1PL

• Tunbridge Wells 10-16 Grosvenor Road, Tunbridge Wells, TN1 2AB

• Birmingham Fort The Fort Shopping Park, Birmingham, B24 9FP

Full list of stores set to close on August 17:

• Bedford 34-38 Midland Road, Bedford, MK40 1PS

• Bidston Moss Unit 8, Junction One Retail Park, Bidston Moss, Wallasey, CH44 2HE

• Broxburn 122 East Main Street, Broxburn, EH52 5EQ

• Craigavon Unit 1C, Rushmere Retail Park, Rushmere, Belfast, BT64 1AA

• Dartmouth 13 Victoria Road, Dartmouth, TQ6 9RT

• East Dulwich 29-35 Lordship Lane, East Dulwich, SE22 8EW

• Falmouth 40-41 Market Street, Falmouth, TR11 3AJ

• Hull St Andrews Unit 11 St Andrews Retail Park, Hull, HU3 4EH

• Newtownabbey Unit 4A, Longwood Retail Park, Longwood Road, Newtownabbey, BT37 9UF

• Perth Unit 8A, St Catherine's Retail Park, Perth, PH1 5XQ

• Poole Units 16-17 Falkland Square, The Dolphin Centre, Poole, BH15 1ER

• Sunderland Unit B, Pallion Retail Park, Sunderland, SR4 6TY

• Stafford Unit 2, Queens Retail Park, Old Rickerscote Lane, Stafford, ST17 4SU

• Thornaby 12 Vale House, Pavillion Shopping Centre, Thornaby, TS17 9FD

• Worcester 15-21 High Street, Worcester, WR1 2QE

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Poundland’s retail director Darren MacDonald said: “It is of course, sincerely regrettable that our recovery plans include any store closures, but sadly that’s necessary if we’re to achieve our goal of securing the future of thousands of jobs and hundreds of stores.

“While our anticipated network of around 650-700 stores remains a sizeable one, we entirely understand how disappointing it will be for customers when one nearby, closes. “Nevertheless, we look forward to continuing to welcome them to a nearby Poundland. 

“It goes without saying that we will work closely with colleagues through a formal consultation process in stores scheduled to close, exploring any suitable alternative roles. That work is underway.” 

Poundland's court-sanctioned restructuring and recovery process, which was launched in June, applies to creditors in the UK. It does not cover Poundland’s store operations in the Republic of Ireland and Isle of Man, where it trades as Dealz, and it does not propose any changes for trade suppliers in both the UK and Republic of Ireland. 

Of the remaining 43 stores identified for closure in the restructuring plan - three (Swiss Cottage, Chiswick and Southampton West Quay) have already closed to customers. 

Poundland was founded in 1990 by Willenhall's Steve Smith with his late father Keith, with the opening of a store in Burton-upon-Trent and it was famed for its £1 products - becoming one of the most popular names on the high street.

Steve Smith having sold his shares in the company in 2006 and in June this year it was acquired by US investment firm Gordon Brothers after being put on the market by previous owners Pepco after a sharp downturn in trading.