Popular discount store announces more store closures in blow to high street

Poundland has announced the closure of two branches in southern England, including one in St George’s Centre, Gravesend, and another at Clapham Junction station, effective May 2. The closures, prompted by the inability to secure long-term leases, have led to significant discounts of up to 50% at the affected stores, attracting large queues of customers. These closures are part of a larger trend affecting high street retailers, with Poundland’s parent company Pepco exploring options amidst a reported £641 million drop in profits and a 9.3% sales decline last year.

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