Poundland to close its Preston store at Deepdale Retail Park
Poundland will shut one of its Preston stores next week.
The retailer has announced it will close its branch at Deepdale Retail Park on Saturday, July 5.
Poundland said its other branch at Fishergate Shopping Centre will remain open and there are no plans for it to close in the foreseeable future.
Poundland’s former owners Pepco Group sold the chain for just £1 last week to investment firm Gordon Brothers after suffering pre-tax losses of more than £51m last year.
The new owners are reportedly aiming to close up to 150 of its 800 stores in the UK and are asking landlords to reduce rents on others.
They said the decision to close the Deepdale store came after it was unable to agree favourable lease terms with the landlord.
A spokesperson for Poundland said: “The store is due to close on July 5 as I’m afraid we’ve been unable to agree lease terms that would enable us to keep trading there.
“As you might imagine, with around 800 stores across the UK & Ireland, with that size of network, we constantly review our store portfolio as leases expire or come up for renewal and that’s the situation at Deepdale.
“We’re sorry we’re having to close our doors at Deepdale and we look forward to welcoming shoppers to our Fishergate store in the city.”