Instead Poundland has found itself running a store closure programme as it tries to secure its future on the high street. More than 100 of its shops have either shut or been earmarked for closure since the summer. That's after the business was sold in June for a nominal £1 amid "challenging trading conditions".
Environmental concerns. In 2008, Poundland faced controversy by green campaigners over transporting Polo mints 7,300 miles (11,700 km) into the UK from Indonesia, rather than sourcing the product locally and in spite of being close to the Nestle Rowntree's factory in York, which has made the sweets since 1948.
The high street retailer has already closed more than 100 stores since mid-way through last year. Poundland announced plans to shut 68 shops and two warehouses in the UK following its takeover by investment firm Gordon Brothers back in June 2025, putting 1,300 jobs at risk.
The company has already simplified its pricing and says it is making good progress with a turnaround plan. This has meant closing 57 unprofitable stores and negotiating steep rent cuts with landlords, where it can.
Poundland is among the chains that have struggled over the year due to pressure on shoppers despite its value proposition. As a result, the group was sold for £1 and embarked on a significant restructuring plan. This involved the initial closure of 57 stores, putting more than 1,000 jobs at risk.
Poundland's new owner is the US investment firm Gordon Brothers, which acquired the discount retailer from its previous owner, Pepco Group, in a £1 deal completed in June 2025. The sale included significant investment and a major restructuring plan involving store closures, job cuts, and a return to Poundland's single-price point roots, with a focus on refocusing the brand after challenging trading conditions.
Poundland is a leading UK discount variety retailer, founded in 1990, known for selling everyday items like groceries, homewares, health & beauty, and PEP&CO clothing at low, value-driven prices, operating hundreds of stores across the UK and Ireland, and serving millions of customers weekly with its "amazing value" proposition. While famous for its initial £1 price point, it now offers a range of prices, with many branded and own-brand products available at budget-friendly costs.
The biggest Poundland in England is located at Teesside Park in Stockton-on-Tees, a massive 19,000-square-foot, two-story store that opened in February 2022 and features extensive PEP&CO clothing, fresh groceries, and a wide range of other products, setting a new standard for the retailer's larger-format stores.
So how do pound shops keep prices so low? Pound shops use a number of methods to keep things cheap: They buy in bulk from China from exporters which specialise in cheap jewellery, hair accessories and a thousand other things. They buy products coming to the end of their shelf life.
The financial crisis at Poundland reflects broader challenges facing the UK retail sector, where changing consumer habits, rising costs, and economic uncertainty have created a perfect storm for many traditional retailers.
An hourly rate of $13.50 translates to approximately $28,080 per year, or about $2,340 per month, assuming a standard 40-hour work week, though take-home pay will be lower after taxes and deductions.
Also the company offers a bit back scheme on annual leave. "you have to be sick for more than 3 days and have a sick note before you get any sick pay and you have to earn more than £112.00 a week to be entitled to anything which they don't tell you. "automatic added to pension plan after probationary period."
Following the sale a huge restructuring plan was announced and approved, with dozens of stores confirmed to be closing before the end of 2025. More are set to close over the winter months. Before the closures, Poundland employed over 16,000 people across 792 branches in the UK and Ireland.
Poundland: sale-driven turnaround, clear landlord differentiation, and fairness considerations. Poundland proposed its plan against imminent cash-flow insolvency, and alongside a competitive sale that delivered new ownership, working capital, and turnaround support.
We aim to democratise sustainability for our customers by offering affordable choices and demonstrating that price is not a barrier to sustainable and ethically produced products. Our strategy divides into four key areas, from how we operate through to the products we sell and how we deliver them.
