Poundland is to close another Kent branch after less than four years in a former M&S unit.<\/p>\n
The discount giant says its Deal store will shut on Monday, October 27 as its lease is due to expire.<\/p>\n
Poundland in Deal High Street is to close later this month<\/p>\n
The chain relocated from its previous site at 15 high street to the ex-M&S unit at number 41 in January 2022.<\/p>\n
The move doubled the size of Poundland\u2019s offering in the town and gave new life to a unit which had been vacant since April 2019.<\/p>\n
But a clearance sale is now set to get underway this week as staff prepare for the store\u2019s closure.<\/p>\n
In June, the chain revealed it planned to permanently shut 68 shops after being sold by Pepco Group to Peach Bidco, a subsidiary of private equity firm Gordon Brothers, for \u00a31.<\/p>\n
The move formed part of a restructuring plan that was approved by the High Court in August – just days before it was due to run out of money and collapse into administration.<\/p>\n
The unit was previously home to M&S<\/p>\n
As part of the plan, branches in Broadstairs, Gravesend and Tunbridge Wells all closed their doors earlier this year.<\/p>\n
A unit in St George\u2019s Street, Canterbury, also shut, but reopened just a week later after bosses secured a new lease agreement.<\/p>\n
In a statement released today, Poundland confirmed the lease on its Deal site – which was not included in its initial 68-store closure plan – is coming to an end.<\/p>\n
\u201cPoundland brought its main 68-store closure programme to a conclusion last month,\u201d said a spokesman for the chain, which has two stores in Dover.<\/p>\n
\u201cIn time it still expects to operate a network of about 650-700 stores compared to about 800 at the beginning of the restructuring programme, as leases expire or landlords exercise any option to serve notice.<\/p>\n<\/p>\n
\u201cThe clearance sales underway and launching in the coming weeks are all taking place at lease-expiry locations as Poundland continues its programme to simplify its retail network around its best-performing sites, securing the future of thousands of jobs and hundreds of stores.\u201d<\/p>\n
Previously, Travelodge confirmed it was reviewing the former Poundland premises in Deal high street, but its plans never came to fruition.<\/p>\n","protected":false},"excerpt":{"rendered":"Poundland is to close another Kent branch after less than four years in a former M&S unit. The…\n","protected":false},"author":2,"featured_media":199590,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,3860,3861,59,191,3864,56,54,55],"class_list":{"0":"post-199589","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-deal","10":"tag-dover","11":"tag-gb","12":"tag-kent","13":"tag-sandwich","14":"tag-uk","15":"tag-united-kingdom","16":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/199589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=199589"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/199589\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/199590"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=199589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=199589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=199589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}