Poundland to close up to 80 stores

[overthewater]

https://www.insidermedia.com/insider/midlands/poundland-planning-80-store-closures

Not surprising since well since the merger some places has to many stores, in one location.

Willenhall-headquartered discount giant Poundland is understood to be weighing up to 80 store closures.

According to The Telegraph, a list of the stores shortlisted for disposal has been sent to property agents as the retailer aims to consolidate its portfolio.

The move comes after Poundland was taken over by South African retail group Steinhoff in September in a deal that valued the business at almost £600m.

The deal was struck after months of negotiations and the agreement came a year after Poundland's £50m acquisition of 99p stores.

As part of the 99p Stores buy, Poundland converted hundreds of branches to its own brand.

The Telegraph reported that some of the latest wave of closures are to "limit duplicates" as a result of the acquisition.

 

[Kite159]

Makes sense if there are two shops near each other, or if the stores are not profitable.

 

[DarloRich]

there are 2 over the road from each other in Bletchley!

 

[Yew]

Surely they'rew rolling in it, with all the extra pennies from re branding 99p stores, ?

 

[dgl]

and 2 quite close in Weymouth and Yeovil which seem a bit redundant, will be interesting to see if it's mainly old 99p stores or poundland stores although I would have thought that they would take shop size/location, footfall and rent into the equation.

Not good in some aspects for the job market but not unexpected I suppose.

 

[WestCoast]

Yeah there's a lot of instances where there's two branches of Poundland on the same street so it doesn't necessarily make sense from a commercial point of view to keep both open. You'd thought that an expanding retail operation like Poundland could minimise any resulting job losses by redeploying staff.

 

[Tracked]

There's 2 in Doncaster, within 5 minutes of each other, one a former 99p Shop, and a Poundworld not too far away ...

Wonder how long it'll be before Subway have the same issue, there's 3 before you get into the shopping centre in Doncaster: one on platform 3, one in the concourse and one in the food hall of the Shopping Centre (just up the escalator from the station concourse).

Plus the other one in the shopping centre, and the two just outside the shopping centre.

 

[Class172]

There are two separate stores down Corporation Street in Birmingham city centre that are within 100m of one another, so I wouldn't be surprised to see one of those being closed.

 

[507021]

I'm not surprised. In the St Johns Shopping Centre there was a Poundland on the upper level and a 99p Stores on the lower level, but the Poundland (which interestingly still had the old green Poundland signage rather than the new blue one) has been closed and the larger former 99p Stores unit remains open.

There's also another Poundland in Williamson Square.

 

[beeza1]

There are 3 in Barnsley since the 99p store was rebranded, all within around 5 minutes of each other.

 

[Strathclyder]

There's at total of 4 of Poundlands in Glasgow City Centre (Sauchiehall St, Union St, Argyle/Jamaica St & Trongate) all them being within a 5-10 minute walk of each other. Out of all them, the one that's most likely to close would be the Union St branch, primarily due to it's proximity to the Argyle/Jamaica St store.

There are also three other stores within the Glasgow City boundary, located in Parkhead (The Forge Shopping Centre), Anniesland (Great Western Rd/Anniesland Cross) & Partick (Dumbarton Rd). The Anniesland branch has always been relatively quiet whenever I've used it, so it's future may be less secure than the rest of them.

 

[Starmill]

I have never been in a Poundland that wasn't full. But at the same time I don't understand how places such as Glasgow and Sunderland have lasted this long with two within sight of each other.

 

[backontrack]

They're mostly old Woolworths stores, anyway.

 

[Xenophon PCDGS]

Does anyone remember what happened to the Kwik Save stores when that company was taken over by Somerfield, quite a few years ago?

 

[Busaholic]

Penzance (or just outside) is about to see a new Poundland store, but then we were always behind the times. If we ever get a Starbucks I'll know coffee drinking is finished in this country.

 

[furnessvale]

I blame Brexit!

People are now so poor they are having to go back to Harrods and Harvey Nick's for their essentials!

 

[DaleCooper]

I bought something (it might have been deodorant) in Poundland a week or two back and was surprised when the cashier said "That's 90p" seeing the look on my face she explained "They're on special offer"! You can't rely on anything these days.

 

[Busaholic]

I bought something (it might have been deodorant) in Poundland a week or two back and was surprised when the cashier said "That's 90p" seeing the look on my face she explained "They're on special offer"! You can't rely on anything these days.

You're sure it wasn't Euroland?

 

[DasLunatic]

In Colchester, we've ended up with five in the local area.

Three are in the town centre, one is in a retail park about five minutes down a hill from the town centre and the last one is in another retail park about five minutes from North railway station, two shops around from a Home Bargains.

 

[Abpj17]

Wonder how long it'll be before Subway have the same issue, there's 3 before you get into the shopping centre in Doncaster: one on platform 3, one in the concourse and one in the food hall of the Shopping Centre (just up the escalator from the station concourse).

Subway is franchise based though so it's not quite the same issue.

 

[johntea]

Some of the stores are huge but they seem to waste half the space with thin air!

Noticed recently the PoundWORLD guy has taken his millions and retired, a good old Wakefield business man! Loved the TV series where his mum made sure he had a cuppa and something to eat before kicking off his meetings

 

[SteveP29]

Does anyone remember what happened to the Kwik Save stores when that company was taken over by Somerfield, quite a few years ago?

Somerfield was bought out by The Co-Op, so any Kwik Saves that survived to be rebranded Somerfield, will now be a Co-Op, unless of course there was already a Co-Op nearby and they'll have suffered the same fate as these Poundland branches

 

[beeza1]

Somerfield was bought out by The Co-Op, so any Kwik Saves that survived to be rebranded Somerfield, will now be a Co-Op, unless of course there was already a Co-Op nearby and they'll have suffered the same fate as these Poundland branches

One of our local Somerfield's is indeed now a Co-op, one of the others is now an Aldi.

 

[AlterEgo]

You're sure it wasn't Euroland?

It'll be twinned with Poundland soon.

 

[BestWestern]

There's 2 in Doncaster, within 5 minutes of each other, one a former 99p Shop, and a Poundworld not too far away ...

Wonder how long it'll be before Subway have the same issue, there's 3 before you get into the shopping centre in Doncaster: one on platform 3, one in the concourse and one in the food hall of the Shopping Centre (just up the escalator from the station concourse).

Plus the other one in the shopping centre, and the two just outside the shopping centre.

I would imagine the Subway outlets are likely all franchised, so it's a decision for the franchisee if they feel they aren't turning a profit.
--- old post above --- --- new post below ---

Somerfield was bought out by The Co-Op, so any Kwik Saves that survived to be rebranded Somerfield, will now be a Co-Op, unless of course there was already a Co-Op nearby and they'll have suffered the same fate as these Poundland branches

Portsmouth's Kwiksave has remained derelict and rotting since the day it closed. A former Safeway supermarket in better condition nearby either then became, or already was, a Somerfield. It then became Co-op, who have recently vacated it, and it too now lies empty!

Cicle of life and all that!

 

[richw]

Plymouth has two within 100 yards and a poundWorld half way between them!

 

[507021]

Somerfield was bought out by The Co-Op, so any Kwik Saves that survived to be rebranded Somerfield, will now be a Co-Op, unless of course there was already a Co-Op nearby and they'll have suffered the same fate as these Poundland branches

The Kwik Save brand was relaunched a few years ago, albeit as a convenience store. They're owned by Costcutter.