Is Poundland closing down? High street favourite with 825 stores 'set to be sold' - latest updates

Advisers from Teneo have been brought in to manage the sale proceedings. It has sparked speculation that some outlets might close if the chain changes hands, although the company has said that nothing about closures has been proposed or confirmed.

This development follows an announcement by Pepco Group, the retail giant behind Poundland, confirming it was considering "all strategic options" for its subsidiary, highlighting a possible sell-off.

A Pepco Group spokesperson said: “As stated at our Capital Markets Day on March 6, we are actively exploring separation options, including a potential sale, for the Poundland business. We have started to work with advisers to support us with this process.”

Pepco also said it was considering putting the chain up for sale after warning tax changes coming in April will put more pressure on the business. A rise in employer National Insurance (NI) contributions announced in the Budget start in April and Pepco says these will "add further pressure" to Poundland's costs.

A host of High Street brands have warned of shop closures, job losses and price rises as a result of rising costs, but a government spokesperson said the chancellor had taken measures to "support business", including capping the rate of corporation tax. Chancellor Rachel Reeves has previously defended the NI increase as "the right decisions in the national interest".

Pepco Group said Poundland was "operating in an increasingly challenging UK retail landscape that is only intensifying". It added: "From April 2025, the UK government's additional tax changes announced in the Budget will also add further pressure to Poundland's cost base”.