Newport branch of Poundland set to close for good as struggling store confirms closure date
A Shropshire high street has been dealt a blow after discount chain Poundland confirmed it would close its Newport store this month.
The Newport store is one of six which are set to close nationally as the ailing retailer completes a restructuring plan intended to turnaround the business.
The firm says staff at the Newport branch were told the store was under threat earlier this summer, but the company has only now been able to confirm an official closure date, with the Newport store set to close its doors on Sunday, September 28.
The closure comes less than two years after the store opened its doors in Newport in a former M&Co store during December 2023.
Last month, the company received High Court approval for its restucturing plan, which allows it to end lease agreements early, and push ahead with further closures.
"Colleagues at locations earmarked for closure under the recovery plan were informed of their store’s status in June and Poundland has now shared a specific closing date for their locations," said a spokesperson for poundland.
Poundland, founded in Burton upon Trent, Staffordshire, in 1990, has approximately 14,700 staff members and operates around 800 stores.
In June, the discount retail chain said it initially planned to permanently close 68 shops after being sold by Pepco Group to Peach Bidco, a subsidiary of private equity firm Gordon Brothers, for £1.
The company has now announced the 58 store locations out of 68 identified for closure under the restructuring plan, part of a move to shrink the company's store network to around 650-700 stores, compared to the 800 or so it had prior to the restructuring.
The company has also said it would close its frozen and digital distribution site at Darton, South Yorkshire, later this year and another warehouse at Springvale in Bilston, West Midlands, early next year, impacting a further 350 jobs.
