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Poundland restructured, closing 150 stores and cutting 2,200 jobs, now focusing on low-priced essentials and clothing.
Poundland has completed its major restructuring, closing nearly 150 stores and laying off 2,200 employees, reducing its UK footprint to 651 locations and workforce to approximately 12,000.
The retailer, now owned by Gordon Brothers after being acquired for £1 in June 2025, has simplified operations by discontinuing frozen food, closing its online platform, and focusing on a streamlined £1, £2, and £3 pricing model, with 60% of grocery items priced at £1.
It is relaunching its in-house Pep&Co clothing line, with 90% of items priced under £10, and launching a nationwide advertising campaign to highlight value.
Despite a 2.9% drop in like-for-like sales during the Christmas quarter due to discounting, comparable sales volume increased by 2%, and underlying earnings reached £17.3 million.
The company claims that future closures will only be due to routine lease expirations, and leadership emphasizes that long-term recovery is dependent on improving product offerings and customer appeal in addition to cost-cutting measures.
Poundland se reestructuró, cerrando 150 tiendas y recortando 2,200 empleos, centrándose ahora en artículos esenciales y ropa a bajo precio.