17 June 2025, 11:16 | Updated: 17 June 2025, 11:22
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Poundland has announced plans to close 68 stores and two UK warehouses as part of a restructuring plan after being sold to investment firm Gordon Brothers.
Last week Poundland announced a “restructuring” process after the high street discount chain was sold to Gordon Brothers.
Pepco Group, which has owned Poundland since 2016, said it has completed the sale of the business for a “nominal” fee.
It comes after an auction by Poland-based Pepco to sell Poundland after a sharp downturn in trading over the past year.
Poundland’s more-than-800 stores and roughly 16,000 employees will be transferred to the ownership of Gordon Brothers, which owns brands including Laura Ashley, as a result.
However, as part of the deal, Poundland is set to undergo a restructuring plan.
Poundland said the details will be communicated “in due course”.
Stephan Borchert, Pepco Group chief executive, said: “This transaction will strongly support our accelerated value creation programme by simplifying the group and focusing on our successful Pepco business.”
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