More than 1,300 jobs are under threat at Poundland after the retailer revealed plans to close 68 stores and two UK warehouses, following its recent takeover by investment firm Gordon Brothers.
The announcement comes just days after Pepco Group sold the struggling discount chain for just £1, amid significant trading losses over recent years.
On Tuesday, Poundland confirmed it is now seeking court approval for a major restructuring plan, which includes the closures and negotiations to reduce rents on dozens of other stores.
