A Poundland store in South Wales, scheduled for closure this week, has been saved.
The retailer revealed in June, following its takeover by investment firm Gordon Brothers, that it planned to shut 68 shops and two warehouses in the UK, putting 1300 jobs at risk.
Poundland concluded its main store closure programme recently, shutting 57 stores, while placing 11 closures on hold.
At the beginning of the restructuring programme, there were around 800 Poundland stores located across the UK.
This number is expected to decrease to around 650 or 700 as leases expire or landlords exercise any option to serve notice.
UK high street shops that no longer exist
Poundland store in South Wales saved from closure
Poundland closed its Cardiff Valegate and Ammanford stores on August 10 as part of the main 68-store closure programme.
Since then, it has closed two more stores in South Wales:
- Pontypool (September 7)
- Abergavenny (September 27)
Last week, Poundland revealed that a further 18 UK stores will be closing in October and November, due to leases expiring.
The Porthcawl shop was among those closures, with Friday (October 10) down as the store's final day.
Poundland has now announced that three of the shops that were scheduled to close have been saved, with new agreements reached with landlords.
This includes the Porthcawl shop.
The South Wales retailer had begun an extensive clearance sale and so will have to close temporarily so it can be restocked. But it will then reopen on Saturday (October 11).
The other Poundland stores rescued from closures were located in Livingston and Musselburgh.
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More Poundland closures revealed
However, it's not all been good news with another three Poundland store closures revealed, replacing those that have been saved.
These new closures are taking place in:
- Andover (October 22)
- Blackpool - Cherry Tree Retail Park (October 25)
- Sidcup (November 14)
Poundland in Porthcawl will close temporarily this week before re-opening on Saturday (October 11).
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