A DISCOUNT retailer has made a major U-turn after a shock closure announcement.
It comes after shoppers feared a “complete ghost town” when the shop was set to close in February.
1
Poundland was set to pull down the shutters on its site in the Sailmakers Shopping Centre, Ipswich.
But now the discounter, which has more than 800 shops in the UK, has pulled a 180 after negotiating with the landlord.
Confirming the news a spokesperson said: “We’ve been working hard behind the scenes with the landlord and are pleased that we’ve managed to secure an agreement that will keep the store open.”
Shoppers had been left devastated after news of the closure broke.
READ MORE IN MONEY
One had said: “The county town is such a dreadful unwelcoming place to venture into and one that’s turned into a complete ghost town with shops closing left right and centre.”
While others commented “so sad,” and “crikey”.
It means that the news the chain will not be shutting the doors on the branch.
Posting on Facebook, one said: “Excellent news well happy for the staff who work there happy days are here again.”
Most read in Money
Another wrote: “Yes yes yes whoop whoop I love my Poundland… and good for the staff.”
A third commented: “That’s good news, they will need a restock now then, the shelves were empty.”
And a fourth said: “There is a god after all I’ve been praying, so hard for this.”
While a fifth stated: “What a stroke of fortune, the town centre has been saved!!!”
“Ipswich busiest shop staying open,” another wrote.
Poundland closed its store in Colwyn Bay, Wales, on January 5 and another branch in Basingstoke on December 31.
But the closures come amid major expansion plans for the retailer.
In October last year, Pepco, which owns Poundland, announced it would open 75 stores by Christmas.
The month before, it took on 71 former Wilko sites after its rival collapsed into administration.
In December, Poundland’s boss Austin Cooke said the retailer had experienced “amazing” trade across the acquired former Wilko sites.
He added: “People are really chuffed we are opening up in their towns.
“You can’t deny times are tricky for many and the cost of living situation is having an impact, but it just gives us more and more reason to give outstanding value.”
What else is happening on the high street?
Retailers have been feeling the squeeze since the pandemic while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year and more are on their way.
Several major brands have also collapsed, such as Wilko and Paperchase.
Many etailers have been struggling to get by, especially during the Covid-19 pandemic.
Energy costs have risen and more shoppers than ever are choosing to order online rather than head into stores.
This has left some retailers grappling with budgets and have no choice but to close stores to cut costs.
British retailers saw the amount of goods they sold drop last month at its fastest rate in three years as under-pressure families shifted part of their Christmas shop to earlier in the year.
Sales volumes dipped by 3.2% in December, data from the Office for National Statistics suggests, down from a rise of 1.4% a month before.
Several big-name chains are pulling down the shutters for the final time this month.
A Tesco Express in the Whitefriars Shopping Centre will be temporarily closed from Thursday and won’t reopen until March 4.
Lidl will be pulling the shutters down on its site in Thornaby next month.
The bargain retailer has confirmed the sites in Stockton-on-Tees will shut on February 29.
Jack Wills in Worcester announced it will be closing down for good on January 30.
Boots revealed it would be closing 300 stores over the next year as part of plans to evolve its brand.
High street fashion chain Peacocks is set to pull down the shutters of its branch in Bury St Edmunds, Suffolk, today.
Entertainment retailer HMV is shuttering its branch in Boston, Lincolnshire, on January 27.
And, the hospitality sector has also been hit, seeing pubs like Wetherspoons and restaurants like Frankie & Benny’s and Chiquito shut their doors.
Elsewhere, a major fast-food outlet with 1,000 restaurants is shutting one of its branches for good.
READ MORE SUN STORIES
Plus, one of the UK’s oldest greyhound race tracks has shut its doors after nearly 100 years in business.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories.
