Poundland to close three Scottish stores within weeks

Three Poundland stores in Scotland are set to close within weeks as part of a restructuring programme.

The discount retailer has announced another tranche of closures in the hopes of turning around its performance and securing its future on Britain’s high streets.

The locations due to close will be holding clearance sales, with reductions of up to 40% and with items marked down in price until they are sold.

Kilmarnock will be the first to close permanently on January 5, followed by Cameron Toll in Edinburgh on January 20 and Coatbridge on February 8.

Poundland will have shut more than 100 shops in the UK by early next year after kicking off its restructuring programme.

The changes come after the retailer was sold for £1 to investment firm Gordon Brothers in June.

It avoided entering administration after a restructuring plan was approved in the High Court in August, days before the company was due to run out of money.

Recovery efforts since have focused on simplifying the business, including cutting stores, but also by overhauling its pricing structure.

It is returning to a simple £1, £2 and £3 grocery pricing across all its UK shops, with around 60% of grocery items priced at £1.

Simple pricing is also being rolled out across general merchandise and clothing ranges.