Update on Poundland after reports chain is to be sold

The owners of Poundland have declined to comment on reports that it has put the discount chain up for sale.

But the chain has issued a new statement saying it is bringing out a new range and opening its first store in the UK since 2024.

There are currently two stores in Blackpool.

Gordon Brothers, an American-based investment firm, acquired Poundland from Pepco Group in July 2025 for a token £1 and immediately closed 200 shops, leaving it with 600.

On the Fylde coast, it currently has branches in Bank Hey Street and Squires Gate. The chain’s Cleveleys store closed in March this year.

Although Poundland’s owners have been approached for a comment, it has not confirmed industry reports it is to auction off its 600 stores, including the two on the Fylde coast.

It currently employs around 12,000 people across the country.

However, Poundland itself has issued a new statement confirming it would open its first new store in two years, as it begins the roll out of its new general merchandise ranges.

On 29 August it will return to Lakeside (Unit 124, West Thurrock, opening its first new location since August 2024.

The move comes as Poundland launches an all-new general merchandise offer being rolled out to its stores across the UK and Republic of Ireland, including new Autumn and Halloween stock.

What Poundland MD says

Poundland says it won’t comment on speculation as to its owner's intentions, but managing director Barry Williams said: “Day-by-day and week-by-week we’re getting the Poundland business back-on-track as we turn around the business at pace.

“And the re-launch of our general merchandise offer is a significant moment, completing the wholesale revamp of our entire offer across FMCG, clothing and now homewares.

“Re-building trust with customers takes time, but we’re making very significant progress as we deliver the ranges and price simplicity they demand of us.

“Thanks to the hard work of my colleagues in every store, distribution centre and customer service centre, we’re making the kind of progress many thought was just a pipedream.

“We know how important a thriving Poundland is for high street footfall right across the communities we serve.”

In February, Poundland issued a statement on its closure of the Cleveleys branch the following month.

A Poundland spokesperson confirmed the looming closure of the Victoria West store, saying: “We began a clearance sale at the store in Cleveleys at 75 Victoria Road West earlier this week (on February 11) as the store is due to close on March 23.

“We can also confirm that any future and current closures (and that’s the case for Cleveleys) are a consequence of standard business-as-usual lease events expected at a retailer with a large store network, not because of the restructure.

“I’m afraid that’s the situation here – we’ve been unable to secure lease terms that would enable us to keep trading there.”

The branch at the Cherry Tree Retail Park closed on October 25, 2025.