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Poundland has announced that a further 10 UK stores will shut meaning that 30 will be lost from UK high streets in October and November. The under-pressure chain has Poundland has confirmed it will return to simple £1, £2 and £3 grocery pricing across all its UK stores as the chain looks to turn around its fortunes after avoiding administration. The discount chain pledged to price around 60% of grocery items at £1 across its estate following the changes, which comes after a five-month pilot at 17 stores in the West Midlands. It said the move will see it go “back to its roots” and mark “the end of additional price complexity”, with simple pricing set to be rolled out across general merchandise and clothing ranges in the coming months. The number of Poundland stores is expected to decrease to around 650 or 700 from 800 earlier this year as leases expire or landlords exercise any option to serve notice. And the chain has confirmed inb stores which are closing down masssive sales are taking place to shift the goods. A Poundland spokesperson said: “Customers will be able to take advantage of significant savings as these stores prepare for closure in the days ahead. “The reductions of up to 40pc will see items marked down in price until they’re sold and cover all the stock in each store from homewares to groceries and clothing to health and beauty.” As well as 20 stores already earmarked for closure these two months, a further 10 will go in November as leases expire, the chain has said. The retailer revealed in June, following its takeover by investment firm Gordon Brothers, that it planned to shut 68 shops and two warehouses in the UK, putting 1,300 jobs at risk. Poundland’s UK country manager, Darren MacDonald, added: “We know how disappointing it is when we leave a store, but before we close our doors for a final time, we’re determined to say goodbye by offering even more amazing value to customers. “The special reductions, on top of the value we provide in every store, will help us leave locations we’re leaving with pride. “And when we close our doors, we look forward to welcoming customers to one of the hundreds of Poundland stores we’ll continue to operate right across the UK.” The retailer is set to shut one more store before the end of October: Walsall (October 29) While the other previously announced Poundland closures for November are: A further 10 Poundland closures have now been added to the list: All these Poundland closures are due to leases expiring. The group added that the changes have helped cut shoplifting by over a quarter in trial stores, by ending the sale of higher-priced items that were attractive to thieves, such as £5 dishwasher tablets. It comes as part of recovery plans after it swerved collapse following High Court approval earlier this week for a major restructuring plan, just days before the firm was due to run out of money. The scheme will see up to £60 million of new funding injected to keep the retailer afloat and allows it to press ahead with a store closure programme, which will see 68 shops shut, impacting around 1,000 workers. Barry Williams, Poundland managing director, said: “Customers have told us loud and clear during these pilots that they will back a simpler, more focused Poundland that keeps its promise of amazing value. “We’ve heard them, and the clear success of our pilot is why I’m confident that a Poundland that’s focused on the simple value our customers expect, has a bright future.” Poundland will also roll out a re-focused grocery range alongside the pricing overhaul. It has already been extended to five stores outside of the West Midlands, in Manchester, Liverpool, Hanley, Brixton and Wandsworth. Poundland said that when complete, around 60% of grocery items will be at £1, 20% will be at £2, and 20% at £3. The firm, founded in Burton upon Trent, Staffordshire, in 1990, was sold by Pepco Group to Peach Bidco, a subsidiary of private equity firm Gordon Brothers, for £1 in June.
