Major update on future of Poundland after revenue tanks by £57,000,000

Poundland’s parent company, Pepco Group, plans to sell the discount chain by September after reporting a £57 million revenue decline, putting up to 200 stores and thousands of jobs at risk. The chain, which has struggled with profitability and identifies loss-making stores for potential closure, has attracted interest from investors, including Gordon Brothers. Recent trading conditions have worsened due to increased retail costs and tax changes, prompting the company to explore strategic options, including the sale of Poundland, which employs around 15,000 people.

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