High streets in the south of England are facing another setback as discount retailer Poundland announces further store closures.
The company has confirmed the shutdown of two more branches, one in Gravesend, Kent, and another at Clapham Junction station in London.
The closure in Gravesend affects the branch at St George’s Centre, where customers have been seen queuing to make the most of a major clearance sale.
With everything in-store now reduced by up to 50%, signs marking a closing-down sale have appeared across the shopfront. This move follows another recent closure in Broadstairs, also in Kent.
Poundland stated the decision to close the Gravesend location was due to the inability to secure a long-term lease. However, the company plans to maintain a local presence by opening a new store in the former Debenhams unit on New Road.
Meanwhile, the Clapham Junction store will officially shut its doors on 2 May after three years of trading. Customers are being redirected to the nearby Southside Shopping Centre store in Wandsworth.
Despite operating over 800 stores across the UK and Ireland, Poundland continues to assess its property portfolio, especially where lease agreements are ending or under review. The closures in Gravesend and Clapham Junction are the latest in a series of changes to the retailer’s footprint.
Other closures include a store in Belfast, which was forced to close following the Connswater Shopping Centre entering receivership. Additionally, a store in Belle Vale Shopping Centre, Liverpool, is set to shut down on 6 May after the lease was terminated.
These developments come amid wider financial struggles for Poundland’s parent company, Pepco Group. The Polish-based retail group is currently exploring strategic options that may include separating from Poundland.
From January to September last year, the company reported a dramatic £641 million drop in profits. Further, the brand’s revenue fell by 9.3% in the final quarter of 2023, highlighting ongoing pressure from changing consumer habits and the broader cost of living crisis.
Poundland’s challenges reflect a broader trend on the high street, where multiple retailers are facing tough decisions. Fashion chain New Look is set to close 26 stores in 2025, with up to 90 more potentially at risk. Rival brand Quiz also shut 23 of its stores earlier this year after entering administration.
As more high street staples face uncertainty, questions remain over the long-term future of bricks-and-mortar retail in many UK towns and cities.
