New Poundland owners plan 68 store closures

New Poundland owners, Gordon Brothers, plan to close 68 stores in a turnaround effort aimed at reviving the budget chain's fortunes. The closures, including distribution centers in South Yorkshire and the West Midlands, are part of a restructuring plan to secure the future of Poundland's 16,000 employees and 792 stores. The move follows the recent sale of Poundland to Gordon Brothers for one pound due to challenging trading conditions, with the company seeking rent reductions and lease expiries possibly leading to more closures in the future.