- Poundland has received court approval for a major restructuring plan, which saved the high-street retailer from entering administration.
- Barristers informed the court that without the sanctioned scheme, the company would have exhausted its funds by 7 September.
- The discount retail chain was sold by Pepco Group to Peach Bidco, a subsidiary of private equity firm Gordon Brothers, for £1.
- In June, Poundland announced plans to permanently close 68 of its shops.
- An additional 16 stores are set to close, with their locations and closure dates to be announced later in the year.
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