Poundland is set to close its store on St George’s Street in Canterbury after being in operation for 15 years. The closure, scheduled for July 23, marks the end of an era for the discount chain’s presence in the city center.
Originally established in December 2008, the store took over the location previously occupied by Woolworths following the latter’s financial troubles. Fans of Poundland have expressed their disappointment over the closure on social media platforms like Facebook.
Customers shared their sentiments, with one mentioning their regular visits to the store and expressing surprise at the sudden closure announcement, while another praised the store staff for their kindness.
Canterbury residents will still have access to a Poundland store at Marshwood Close Retail Park, as the company explained that the decision to close the St George’s Street branch was due to challenges in securing a long-term lease from the property owners.
Poundland’s spokesperson highlighted the company’s strategy to streamline its store network, aiming for approximately 650-700 stores across the UK and Ireland, down from the current count of around 800. The closure in Canterbury is part of a broader plan to restructure the company, which includes shutting down 68 stores and renegotiating rent agreements at other locations.
The Poundland store closures follow a series of similar actions, with 16 stores already shut and additional closures planned for the summer. The company, owned by Pepco Group, operates about 800 stores in the UK and employs approximately 16,000 individuals.
Pepco Group’s CEO, Stephan Borchert, emphasized the importance of the transaction in supporting the company’s growth strategy, focusing on the successful Pepco business. Despite the closures, Poundland remains a significant player in the UK discount retail sector, with a loyal customer base and a strong market presence.