Bargain UK retailer to shut ‘another good shop' TODAY after announcing 68 closures with huge sales launched
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A MAJOR UK retailer has permanently pulled the shutters on another location.
The move comes as the budget chain announced a series of store closures in recent weeks.
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Another Poundland store has pulled its shutters for the last time as part of the company's restructuring (stock image)
Credit: Alamy
Poundland confirmed the closure of its Flintshire Retail Park location earlier this week.
The shopping chain is closing 68 stores across the UK as part of a restructuring plan.
A further 82 Poundland locations are reported to be at risk in the coming years.
This comes after Poundland was sold to the investment firm Gordon Brothers for just £1.
Flintshire is one of many store locations to launch sales in the lead up to closure.
The Leader reported on the latest development, speaking to a Poundland representative ahead of the Welsh store's closure.
"We've been unable to agree terms that would allow us to keep trading in Flint, and the store is planned to close on June 21," the rep said.
"We'd obviously like to thank customers for their support there."
The Poundland spokesperson went on to discuss the effect the closure would have on the location's staff.
"It goes without saying whenever we close a store in circumstances like these, we do all we can to look for other opportunities for colleagues and that work is underway," they said.
Poundland to be sold for JUST £1 as frontrunner for shock takeover is revealed after wave of store closures
"With over 800 locations across the UK and Ireland, we constantly review our store portfolio as leases expire or come up for renewal. "
Flintshire residents shared their disappointment over the closure on Facebook.
"Such a shame," wrote one local shopper.
"It happened in Bangor, same thing, now it's a charity shop. It's a shame really and we all thought prices were going down," agreed another commenter.
"Such a shame these shops are closing," wrote a third Flintshire resident.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
However, additional costs have added further pain to an already struggling sector.
The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April will cost the retail sector £2.3billion.
At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40.
The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year.
It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year.
Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025."
It comes after almost 170,000 retail workers lost their jobs in 2024.
End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker.
It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date.
This was up 49,990 – an increase of 41.9% – compared with 2023.
It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns.
The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker.
Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations.
Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes.
Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector.
"By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
"Oh no, love Poundland, feel sorry for the people who work there," said another person.
"It's really sad, a lot of people there [are] losing their jobs," agreed one Facebook user.
Others blamed the increasing prices for the decline in Poundland's popularity.
"Think the reason is the whole Poundland gimmick is gone now and other places are cheaper to buy from," pointed out one person.
"Should not be allowed to call themselves Poundland when most items are costing more," agreed another commenter.
"Nothing is a quid in there anymore anyway," wrote one Facebook user.
"Getting too dear in there now anyways," said another local resident.
A total of 200 Poundland locations were reported to be at risk amid the company's restructuring.
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