Poundland forced to up security after millions lost to shoplifters

Poundland’s owner has slumped to an annual loss after taking a 775 million euro (£639.8 million) hit on the discount chain, blaming soaring costs from recent Budget moves and falling sales (Dominic Lipinski/PA) - (PA Archive)

Poundland is spending more money than ever on security measures to tackle shoplifting after losing more than £40 million worth of stock last year.

The bargain retailer, which sells a large proportion of its products for £1 or less, said it had been a particular target of theft and abuse.