Poundland has announced that its restructuring programme which saw almost 150 stores close and helped it avoid plunging into administration is complete, but it says there’s still “much to do”. The major shake up was set in motion in June after the struggling high street band was bought by American investment firm Gordon Brothers from previous owners Pepco following a slump in sales.

In a bid to revive the chain’s fortunes, Poundland secured High Court approval last August for the plan which involved cutting its estate down from 800 to 651 stores, and reducing its work force from 14,200 to around 12,000 at the end of 2025, representing approximately 2,200 job losses. In a statement, Poundland has now said the wave of closures has come to an end. The company said: “Any future closures will be a consequence of standard business-as-usual lease events expected at a retailer with a large store network.”

However, Poundland emphasised that the work to turnaround their finances isn’t over. Christmas trading figures showed like-for-like underlying sales dropping 2.9% in the quarter to December 28 after the chain dropped prices.

However, comparable store sales by volume saw a 2% increase. Poundland managing director Barry Williams said: “While there’s been significant progress as we refocus and re-energise the business with lower prices and a sharper offer, we know we still have much to do.

He added that the chain’s focus on their costs has, “without doubt, given us a platform for future growth, but no sustainable turnaround can be based on cost management alone”.

“That’s why our focus in 2026 will be on delivering the kind of ranges and price simplicity our customers want right across the store – in clothing, homewares as well as our core grocery aisles,” he added.

Mr Williams said their customers had told them “loud and clear they want a simpler, more focused Poundland that keeps its promise of amazing value”.

“We have clear indications from the work we’ve already done that we’re on the right track.”

In a statement last year prior to the formal approval of the closures, Mr Williams said: “It’s sincerely regrettable that this plan includes the closure of stores and distribution centres, but it’s necessary if we’re to achieve our goal of securing the future of thousands of jobs and hundreds of stores.

“It goes without saying that if our plans are approved, we will do all we can to support colleagues who will be directly affected by the changes.”

A beauty brand popular amongst UK shoppers has shut all of its British stores and paused its online sales in the UK. The company said it had exhausted all viable options, but in the end, it had no choice but to go into administration. The move will reportedly lead to redundancies. Malin + Goetz has seven UK stores, all in London. They are found in Islington, Canary Wharf, Soho, Battersea, Seven Dials, Spitalfields and Borough Yards. 

Its products are also sold through third-party retailers such as Liberty, John Lewis and Space NK. The brand specialises in skincare products, haircare, candles and fragrances. It was founded in the Chelsea neighbourhood of New York City in 2004 by founders Matthew Malin and Andrew Goetz. A short maintenance period will mean online UK sales will pause while the company shifts e-commerce operations to its US team. 

A spokesperson told TheIndustry.beauty: “Following an extensive review of the business and after exhausting all viable alternatives, we have taken the difficult but necessary decision to put our UK business into administration, resulting in the closure of all UK stores that we operate and our head office.

“We recognise the impact this will have on our colleagues and customers, and the loss of jobs is deeply regrettable, but unavoidable under the circumstances.”

They added: “This structural change will allow the business to focus on our e-commerce and third-party retail channels where our customers increasingly choose to shop, while enabling us to operate more efficiently, and better serve customers in the long term.”

A new partnership with distributor Discovered Brands means that customers can continue to get Malin Goetz products through third-party retailers in the UK. 

Among the brand’s best-sellers are its travel skincare kit, its advanced renewal moisturiser, its Vitamin E face moisturiser and its all-purpose moisture balm.