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The Guardian - UK
The Guardian - UK
Business
Joanna Partridge

Poundland sold for £1 with dozens of store closures expected

Poundland Gordon Brothers Pepco Pepco Group
A customer enters a Poundland store in Blyth, Northumberland.
Budget chains such as Poundland have been having a tough time because of growing competition from supermarkets. Photograph: Owen Humphreys/PA

The discount retail chain Poundland is expected to close dozens of its stores after it was sold to the investment company Gordon Brothers for £1.

Poundland, which has more than 800 outlets in the UK and employs about 16,000 people, was put up for sale by its owners, Pepco Group, in March as a result of “challenging trading conditions”.

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