Poundland confirms closing date for another store after being sold for £1

Poundland is closing another one of its stores later this month after 15 years in business. The discount chain is shutting its Canterbury city centre branch on St George's Street on July 23.

The store first opened in December 2008 when it replaced Woolworths following its collapse into administration. Disappointed Poundland fans have been responded to the closure on Facebook.

One person said: "What a shame, I always get a few bits in there. Was only in there this morning, knew they were going to take the freezers out but not close the store." Another commented: "So sad for staff. They are so lovely in there."

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A third person said: "Another empty shop then." A fourth commented: "Things aren’t a pound - sized of the products sold are smaller too. But it’s depressing that another store is closing."

Canterbury has a second Poundland store at Marshwood Close Retail Park. A spokesperson from Poundland told The Sun the St George's Street store was closing as it was unable to "secure a long-term lease" from its landlords.

They said: “We recently made it clear that over time, Poundland expects to have a store network of around 650-700 stores in the UK & Ireland compared to about 800 today.

“While that that remains a very sizeable number of stores, we know how disappointing it is for customers when a location like Canterbury closes.

“It goes without saying that we will formally consult with colleagues at the store and that work is underway.”

It comes after the discounter recently revealed plans to close 68 stores as part of a major restructure, plus it will look to reduce its rent at a number of other locations.

The restructuring plan will go through the High Court for approval. But before this announcement, Poundland had already shut 16 stores recently, with a further two planned for this summer.

Before this announcement, Poundland had already shut more than a dozen stores, with a further two planned for this summer. Its store in Cowes, Isle of Wight, will shut permanently on July 30, followed by its branch in Newquay, which will close on August 1.

Poundland, which is owned by Pepco Group, has around 800 stores in the UK and employs roughly 16,000 employees.

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.

“Poundland remains a key player in UK discount retail, with millions of customers annually and a well-loved brand and proposition.

“We want to sincerely thank all the Poundland team for their ongoing commitment and contribution to the group and wish Barry Williams and his team all the best for the future.”