Popular discount store announces more store closures in blow to high street

Two high streets have been rocked by news that a discounter retailer is closing some of its branches.

Poundland has announced the closure of two more branches in the south of England.

The move has sparked huge discounts at the stores, with prices cut to as low as 50% off.

One branch is closing in St George’s Centre in Gravesend, Kent, where customers have been spotted queuing to snap up the cheap deals.

Multiple signs declaring a ‘closing down sale’ have been plastered over the shop windows.

Every item is now half price and there were huge queues to get into the discount store yesterday to grab those last minute deals, KentOnline reports.

This follows another Kent closure in Broadstairs last month.

The chain said this was because they had been unable to ‘secure a long-term lease’ at the site.

These closures have being offset by plans to take over a former Debenhams store in New Road, Gravesend.

The other Poundland being slashed is at Clapham Junction station.

The branch at the bustling train station will close on May 2 after three years there.

A closing-down sign inside the store states: ‘We’re closing May 2. Don’t worry, we have another great store in the Southside Shopping Centre near Specsavers!’

Poundland told Metro: ‘Poundland operates from over 800 locations across the UK and Ireland and wth so many outlets, it will be no surprise that we constantly review our store portfolio as leases expire or come up for renewal.’

A Poundland spokesperson added to The Sun: ‘We know how disappointing our closure at Clapham Junction will be to customers and we looking forward to welcoming them to our store nearby at the Southside shopping centre in Wandsworth.’

This high street disappoint comes after a Poundland in Belfast was forced to close after the Connswater Shopping Centre was put into receivership.

Another store in the Belle Valle shopping centre in Liverpool is also preparing to vacate.

They will be leaving the site on May 6 after they were served notice on the lease.

Poundland’s struggles come as parent company Pepco group, a Polish company, said it was looking at ‘all strategic options’ to separate itself from Poundland.

The chain’s profits tumbled by £641 million from the period from January to September last year.

Poundland also suffered a slump in sales after their revenue fell by 9.3% from October to December last year.

Poundland’s struggles follows a turbulent time for a string of high street giants.

New Look has announced 26 stores are losing down in 2025, with 90 ‘at risk’ when their leases expire.

Rival fashion brand Quiz shut 23 stores, a third of its total, in February after falling into administration.

The retailer cited reduced spending among its customers from the cost of living crisis for the decision.

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