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January 11, 2021

Poundland temporarily closes 44 stores amid new UK Covid-19 restrictions

British variety store chain Poundland has closed 44 UK stores on a temporary basis due to the new Covid-19 restrictions in the country. 

British variety store chain Poundland has closed 44 UK stores on a temporary basis due to the new Covid-19 restrictions in the country.

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The retailer made the decision despite being classified as an essential retailer by the Government as it sells food and medicine.

According to the retailer, the closure will enable the retailer to focus on a slightly smaller number of locations and enhance customer service.

The temporary closings reflect the 80% drop in footfall at some shopping centres and high streets, said the company.

Poundland retail director Austin Cooke was quoted by media sources as saying: “We learned valuable lessons during the lockdown in March about how buying patterns change as people stick to Government advice to stay at home.

“Putting a small number of stores into hibernation helps protect them for the long term and focus our attention on the majority of stores that remain open to serve their neighbourhoods.

“We hope this lockdown is short and we can re-open our hibernating stores as quickly as possible and we remain grateful for the vital support schemes available to us that help protect jobs.”

Meanwhile, around 800 Poundland stores will continue to operate across the UK.

Last March, the retailer closed around 120 stores during the first lockdown but started reopening them from the end of May.

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.