Major retailer launches closing down sale at branch as 2 more shops shutting down

A major retailer with more than 850 shops across the UK and Ireland has launched the closing-down sale at one of its branches. Closing down posters appeared at the Poundland in St Marks Place in Newark, prompting upset among locals.

News of the closure of the Newark shop, reported by the Newark Advertiser, has come as a blow to locals, with one saying: "Bloody hell, soon won't be any shops left." A branch in Pontypool is also to shut down for good, the Sun reports. The store will pull down its shutters one last time on September 7. Poundland has already closed 17 stores across the UK since March last year, including in Macclesfield, Maidenhead and Flint.

The discount chain is shutting three more branches over the next three months, including the store in Cowes, Isle of Wight, with its final day set on July 30.

A branch in Barrow Dalton Road closed on June 12. During the closing sale at the Barrow store, shoppers were able to find a garlic masher for 12p, wine and beer glasses for 25p a pop, and a USB charger for 37p.

Poundland is set to close up to 68 stores with a further 150 at risk of closure. The store expects to reduce its portfolio to around 700 stores.

Last month, the chain was sold to investment firm Gordon Brothers for £1. The retail chain had previously been owned by Polish company Pepco Group since 2016.

The new owners have proposed axing frozen foods, reducing chilled foods, closing distribution centres, not selling online, and providing more womenswear and seasonal ranges.

These closures will deal a further blow to the British high street, which is continuously seeing branches of banks and retailers closing down.

This week, Santander is closing 9 branches while Claire's is facing a second bankruptcy.