Poundland stores in Darlington not impacted by closures

The closures are part of a restructuring plan following a takeover by investment firm Gordon Brothers, after the chain itself was sold for just £1 last week.

The retailer, which primarily sells products for £1, is seeking court approval for the plan, which includes rent reductions on other premises.

Poundland has said it will shut dozens more of its UK shops in the coming years, but currently,  stores in Darlington are not impacted by the closures.

A spokesperson for the discount store told The Northern Echo: "We outlined business recovery plans last week that included the possible closure of 68 stores later this year, and neither of the Darlington stores is included on that list.

"However, we anticipate, in time, a store network of between 650 to 700 stores and with that size of network, we constantly review our store portfolio as leases expire or come up for renewal."

Closures are linked to plans to stop online sales through its website.

Managing director Barry Williams said: "It’s no secret that we have much work to do to get Poundland back on track.

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"While Poundland remains a strong brand, serving 20 million-plus shoppers each year, our performance for a significant period has fallen short of our high standards and action is needed to enable the business to return to growth.

"It’s sincerely regrettable that this plan includes the closure of stores and distribution centres, but it’s necessary if we’re to achieve our goal of securing the future of thousands of jobs and hundreds of stores."

Poundland's revenue dropped by 6.5 per cent to 985 million euros (£830 million) for the six months to March.