Peckham’s Poundland will close towards the end of next month as the budget retail chain plans to cut a growing number of stores across the UK.
The branch in the Aylesham Centre will close on November 20.
An extensive clearance sale is now underway and customers will be able to nab items with discounts of up to 40 per cent.
It is just the latest Poundand store to go in Southwark after the branches on Lordship Lane and inside Surrey Quays shopping centre were both shut earlier this summer.
The retailer embarked on a restructuring plan back in June after it was bought by investment firm Gordon Brothers, unveiling plans to close 68 branches across the UK.
This followed a period of sluggish sales, with managing director admitting: ‘It’s no secret that we have much work to do to get Poundland back on track.’
‘While Poundland remains a strong brand, serving 20m-plus shoppers each year, our performance for a significant period has fallen short of our high standards and action is needed to enable the business to return to growth.’
In time, Poundland expects to operate a network of around 650 to 700 stores, compared to around 800 today, once leases run out or landlords exercise an option to serve notice.
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