Poundland in North End announced as the bargain chain's latest store to close amid restructuring plan

The shop in London Road, North End, will be closing on Saturday, September 20 as the bargain chain continues to enact a restructuring plan which will result in 68 store closures nationwide.

The Portsmouth branch was not named amongst the stores to close at the end of this month by Poundland, with Havant listed as the only shop in Hampshire affected.

However, signs have now appeared in the window’s of the North End Poundland, which also stocks Pep & Co clothing, confirming that a closing down sale is in progress.

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A High Court judged approved the company’s restructuring plan at the end of August, saving it from collapse. with 68 store’s earmarked for closure. The plan will see 68 shops close - with all staff at the shops identified told of their status in June.

The rescue package, sanctioned by Sir Alastair Norris, will see up to £60 million in fresh funding injected into the business, alongside a £30 million overdraft facility and revised loan repayment deadlines pushed back to 2028. Rents on some of Poundland’s less profitable stores will also be reduced.

Poundland have also confirmed that it will be reducing prices and returning to £1, £2, £3 pricing in its grocery aisles.

Officially, Poundland have only confirmed 58 of the 68 shops that are earmarked to close. However, the branch in Whiteley closed in July 21 and was not one of the stores named in the restructuring plan, and now the North End store has followed suit.