Bargain chain with 850 branches to shut another store TODAY as fans shout they’re ‘absolutely raging’
SHOPPERS have been left fuming after a bargain chain with 850 branches shuts down yet another store.
Poundland in Lowesoft’s North Quay Retail Park in East Suffolk has pulled down the shutters for the final time today.
The bargain retailer broke the devastating news to fans earlier this month.
A spokesman for Poundland said at the time: “The store is closing as we’ve been unable to agree new lease terms.
“We know that will be disappointing to colleagues and customers alike.
“We will do all we can, as we do whenever we close a store, to find alternative roles for colleagues.”
Shoppers have been gutted at the closure and flocked to the comments to express their disappointment.
Writing on Facebook, one local said: “Absolutely raging.”
Another said: “Such a shame.”
A third added: “That sucks – just as the bridge is nearly ready, so easier for people to access like me who walk.”
A former staff member said: “And to think I used to work there up till 2021 and left as was always told there wasn’t any more hours going.
“Glad I got out when I did now instead of getting made redundant.”
It comes only days after the discount chain closed its store in the Cleveland Centre in Middlesbrough.
Earlier this month, Poundland also closed the doors of its Bishop’s Stortford location for good.
Another store on Bradfield Road in Hillsborough, Sheffield, shut its doors for the last time on April 20.
The stores were open for just six months after they took over former Wilko sites.
Around 71 Wilko stores were bought up by Poundland after they fell into administration last year.
The bargain retailer quickly turned them around and re-opened the stores under their brand.
Since then stores in Ellesmere Port, Glashiels and the Sailmakers Shopping Centre in Ipswich have closed for good.
However, it is not all doom and gloom for Poundland fans, as the retailer has also been busy opening up in some new locations.
Most recently the retailer has cut the ribbon on stores in Norwich and Bridgwater.
The popular discounter has around 800 branches across the UK, and it is giving a makeover to 150 locations.
Many stores are getting additional features such as chilled food ranges and baby and kids clothing sections.
The store upgrade is part of a huge new makeover project that the chain is calling “Project Evo” and some renovations have already been completed.
This includes sites in Urmston, Greater Manchester, Wolverhampton, West Midlands and Leeds Crown Point.
All 150 stores are expected to receive makeovers by August 2024 – we have the full list.
After the alterations, all the stores will offer more baby and kids clothing for parents on a budget.
The introduction of chilled food will give shoppers the chance to pick up items from Poundland’s popular frozen food ranges.
Shoppers will also be able to pick up Poundland’s £3 meal deal in each location.
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.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.