News / Shops
Retail chain closes Bristol branch after being sold for £1
A Bristol branch of Poundland is one of more than 60 shops that are either closing soon or have already shut down, after the retail chain was sold for less than £1.
Poundland on Union Street has closed for good as part of nationwide closures, after the “global assest experts” Gordon Brothers acquired the chain on June 12 and announced the closures of 68 branches.
The branch was one of three in the area, with another Poundland a short walk away on the Horsefair and one in the Galleries, with the entire shopping centre also impending closure.
is needed now More than ever
This comes less than a month after the Poundland within the Abbey Wood Shopping Park in Filton shut operations on May 30.
The retail chain announced closures of 68 stores as part of the new management’s restructuring plans
Signage on the now-closed Union Street branch navigates customers to the Horsefair as the nearest alternative store to continue shopping.
The retail chain was under the ownership of the Pepco Group since 2016 and had nearly 800 shops at the time of the sale. However, this figure is soon expected to drop to no more than 650 outlets across the country.
Pepco’s CEO Stephan Borchert called the retail chain’s sale an “important milestone” as the group moves to focus more on clothing and general business merchandising, rather than FMCG.
He added: “As set out during our Capital Markets Day in March 2025, this transaction will strongly support our accelerated value creation programme by simplifying the Group and focusing on our successful Pepco business.
“I am confident that Pepco has the right foundations to be one of Europe’s most successful discount retailers, delivering customer satisfaction, profitable growth and shareholder value.
“Poundland remains a key player in UK discount retail, with millions of customers annually and a well-loved brand and proposition.”
Soon after their purchase, Gordon Brothers announced a £80m funding directed towards supporting the chain’s restructuring and turnaround plan under the new management.
The retail chain first opened doors in Bruton-on-Trent in 1990, and has since expanded across the UK and Ireland, where it trades under the name Dealz. Together Poundland and Dealz are said to have employed nearly 16,000 people.
All photos: Karen Johnson
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