The new owner of the discount retailer Poundland has revealed proposals to close 68 stores and two distribution centres under a shake-up that will also see frozen food and online sales halted.
Gordon Brothers, the investment firm which snapped up the struggling brand for a nominal sum last week, said its recovery plan “intended to deliver a financially sustainable operating model for the business after an extended period of under-performance”.
The company was yet to confirm exactly how many staff would be affected by the closures.
It was also seeking store rent reductions more widely.
Sky News reported on Monday that if creditors approved the restructuring, 250 of Poundland’s sites would see their rent bills reduced to zero.
Poundland said its focus would be on profitable stores, with its web-based operations becoming confined to browsing only.
While outlining plans to end frozen food sales, with a reduced chilled food offering, the company said it would no longer need its frozen and digital distribution centre at Darton in South Yorkshire.
It was to shut later this year.
Poundland also planned to close its national distribution centre at Bilston in the West Midlands early in 2026.
This breaking news story is being updated and more details will be published shortly.
Please refresh the page for the fullest version.
You can receive Breaking News alerts on a smartphone or tablet via the Sky News App. You can also follow @SkyNews on X or subscribe to our YouTube channel to keep up with the latest news.
