Forum Topic

Poundland will close soon

I heard today that Poundland will close ‘in ten days’ time’. The High Street is still suffering a slow death.

Catherine Schade ● 1195d62 Comments

Closed and being replaced by some kind of carpet/fabric place?! What use is that on the high street?!

Simon Sharp ● 1132d

Seriously chaps I don’t see what particular reason for your reaction against me for asking individuals on this forum to support local shops and use cash this Christmas. Best P

Paul Beer ● 1184d

Yes, prat not pratt: the curse of autocorrect!

Richard Carter ● 1187d

Andy. I never agree with Beer, but occasionally agrre with AP. Experience to date suggests to go 180 degrees from anything he (Beer) suggests.Isn't it prat rather than pratt?

Michael Winstanley ● 1187d

Who are you agreeing with, Michael : Andy, or that pompous pratt Beer?

Richard Carter ● 1187d

Not often I agree with you!

Michael Winstanley ● 1187d

🤣🤣🤣

Andy Pike ● 1187d

Richard, firstly I need apology.

Paul Beer ● 1187d

"Noticeable that many conspiracy theories are now truths" Lol! This might deserve a response if you'd thought to provide some examples of these "many". I'm not holding my breath.

Richard Carter ● 1187d

Paul. I like to see polite, sensible discussion argued using facts backed with verifiable evidence, or declared opinions. However, some of the videos posted are exaperating so it's not surprising that they promote some less than polite responses. I have a problem with the one you posted it seems to start by purporting to be a BBC clip (at least, that's what it seemed to me) but it very obviously wasn't one; I'd consider that fraudulent. I can't believe the errors in it would get past the BBC's verification process even after their staff economies. Keep in mind that some of us in IT have worked with finance, banking and payments systems so watching videos like that are an insult to our intelligence.At another level I can understand why people mistrust this government - Johnson's government breaking their own laws and cavalier attitude towards codes of conduct, and Truss's one trashing the economy by their incomplete dogmatic approach seemingly favouring their wealthy banking friends are bound to lead many to that conclusion. But one has to keep a sense of reality, we've just been through a pandemic, there's a war in Europe and the UK's in trauma following its split from the EU.You haven't commented on the articles about what's happening with digital currencies and payments systems elsewhere in the world - whatever one thinks of the new Sunak government at its motives don't you think it should take steps to keep the City of London financial markets up to speed with the latest technological developments now the UK's lost some of its Euro trading activities since Brexit ?

Michael Ixer ● 1187d

No, you have imagined a few ridiculous conspiracy theories being true.FTFYAs to framing gratuitous spending as some kind of public service - what is that about? You would do better to encourage people to support the genuinely needy through volunteering and donations. Shopkeepers (and lets face it, most of those in PHS are national chains) are in business and - unless we have become Cuba unbeknownst to me - need to take the rough with the smooth.

Michael Winstanley ● 1187d

Ha, Ha Richard only likes to be able to be rude. Everybody else don't upset Richard.

Barbara Stevens ● 1187d

Richard C didn’t we have a new etiquette agreement for our forum, not to insult each other. Noticeable that many conspiracy theories are now truths ….never the less, hope you go to Putney high St. and use your cash which is still legal tender and support local shops.  Our high street needs you.

Paul Beer ● 1187d

Yes Michael I have noticed many ridiculous conspiracy theories becoming truths. Anyway try and make an effort to use that plastic in Putney this Christmas. Your high street needs you.

Paul Beer ● 1188d

I don't have an iphone - they are a ridiculous amount/waste of money - though I do have a smartphone.Most of my purchases are made online or with plastic cards. I still use cash when required - have been to an atm in the UK once in the past 2 years.I don't bother to carry change any more.Like most people in the UK, only a tiny proportion of my expenditure is now made in cash. Thus if cash disappeared altogether, I would shed few tears.Since there is a significant fraction of the population which uses only cash and has no bank account even, I would be very surprised if cash disappeared altogether in my lifetime - if so the people so affected would move to barter.The ridiculous conspiracy theories put about regarding the elimination of cash as a state control mechanism are just that.

Michael Winstanley ● 1188d

OMG, "the beginning of the end for human freedom" no less! The usual utter b*ll*cks from the oleaginous Beer!

Richard Carter ● 1188d

Paul, it definitely looks like Singapore are pushing on the digital front with this licence for Circle USDC; a stablecoin, meaning it is a crypto currency linked to another stable asset, usually a fiat currency, in this case the US dollar. https://www.coindesk.com/policy/2022/11/02/singapore-grants-stablecoin-issuer-circle-in-principle-license-to-offer-payment-products/ These, of course, are commercial payment system ventures not any central government initiative and operate in a competitive market alongside similar ventures, often operating over blockchains provided by other commercial organisations. It's only connection with a government, as I noted above, is that it's tied to the US dollar

Michael Ixer ● 1188d

Barbara, with electronic tills and barcoded products they can't even carry out cash transactions - aside from the H&S aspect of no lights and the lack of CCTV to stop shoplifting It will be interesting to see what happens if we have rolling power cuts this winter and how well managed it is ... we're even more dependent on electricity than in '73-74; we submitted the data on punched cards for overnight processing by the computers in those days!That's why I noted in a previous post that I can see a digital currency being viable without five nines reliability - that's 99.999% availability in a year, or around 5 minutes of unavailability in a year :-)

Michael Ixer ● 1188d

It's now on the front page of the Forum about Poundland.

Barbara Stevens ● 1188d

What about when there are Electricity cuts. I was in R.Dyas the other day and all their computers weren't working.

Barbara Stevens ● 1188d

Paul, I'm assuming this is addressed to Michael W?

Michael Ixer ● 1188d

Have missed our enlightening debates Michael and what an excellent reply to my post to get us started. Are you for cash or touch your iPhone digital kind of chap?

Paul Beer ● 1188d

Yes, Michael, but I found it quite amusingly naïve in the way it showed a complete inaccuracy in the way interbank payment systems such as BACS, Visa, etc work. Of course if authoritarian governments want there are already enough data within the finance, telecommunications and travel systems (and, not forgetting, social media systems) to keep tabs on us (just think of China). (I notice none of these "freedom fighters" have mentioned MiFID II regulations that require reporting of all dealing transactions?) So it's important that governments are challenged on new legislation that infringe on rights and that investigatory organisations are held to account for their actions with sanctions being applied if they overstep their authority.Do many people carry large amounts of cash these days unless it's for criminal purposes? (Perhaps for legal gambling? But has the cash in all cases been gained legally even if it subsidises a legal leisure activity?) Surely the risk of theft of cash without return is too high? There is at last a chance of a return in electronic transaction fraud if one's not been negligent as there's normally a record of the fraud and how it was executed even if the funds are unrecoverable.

Michael Ixer ● 1188d

Paul, for better or worse - all technologies have benefits and risks - new digital mechanisms based on digital ledger transactions (blockchains) are already being introduced into the markets. Whether - or to what extent - they might permeate into the fiat currency area is uncertain; I suspect it's likely they will complement them in time but I can't see them replacing cash until there are payments systems that have a global five-nines reliability and universal six-sigma compliance with standards? Anyway when players such as J P Morgan and the Singapore Markets are trying out the technologies for corporate use I don't think they're going to go away: https://www.mas.gov.sg/news/media-releases/2022/first-industry-pilot-for-digital-asset-and-decentralised-finance-goes-live (And, re-reading that, it's my buzzword bungo entry for today!)

Michael Ixer ● 1188d

Sensationalist claptrap. Save your time guys - don't bother.

Michael Winstanley ● 1188d

If anyone is interested this short film explains CBDC Central Bank digital currency, and why it might not be a good move.https://youtu.be/FRJoHk_VCV0

Paul Beer ● 1188d

It's good to see a foreign perspective of the UK and digital currencies, picking up on Sunak's comments about them and his background. Perhaps being the capital of "crypto" and "blockchain" is the post Brexit future for the UK? (Bye, bye cash? And manufacturing?) It's also interesting to see financial sector opinions of Truss and Kwartang :-) Not often the US capitalist view corresponds with that of the UK's left wing!https://www.cnbc.com/2022/11/01/what-rishi-sunak-as-pm-means-for-the-uk-crypto-industry.html

Michael Ixer ● 1189d

It was also on lap posts in High Street. Only use cash, or don't use the shop.

Barbara Stevens ● 1189d

Andy. I'm told drug suppliers on the Dark Web use cryptocurrencies such as Bitcoin, as do other purveyors of criminal goods and services via digital systems (such as Randomware or Distributed Denial of Service as a Service). I guess they'll just all have to go online; more comfy than standing around on dark street corners? A piece by the Bank of England on Central Bank Digital Currencies. Looks like it won't be with us for a while and it's intended to run alongside cash: https://www.bankofengland.co.uk/knowledgebank/what-is-a-central-bank-digital-currency (It is interesting that it mentions that it would be a fiat currency and hence more stable than cryptocurrencies; I've seen some articles querying that with the recent yo-yoing of Sterling thanks to Truss and Kwartang!) Also, a piece on legal tender that the publishers of Martine's leaflet might want to read. Remember the days when some supermarkets accepted luncheon vouchers for groceries? https://www.bankofengland.co.uk/knowledgebank/what-is-legal-tender

Michael Ixer ● 1189d

if we ever move away from cash completely, I wonder what the drug dealers will do? will they have to register as businesses in order to take contactless? :)

Adam Tripp ● 1189d

As you are discussing cash or card, here is a leaflet I was handed in the street:

Martine Guy ● 1189d

Although I use a credit card most of the time I do usually carry some cash as there's the occasional place where they only take cash. (Although not the time I was in the Rocket!)My advice is to use a credit card rather than a debit card. If one's card is compromised with a credit card one can dispute charges - and if they're fraudulent they're normally cancelled immediately; with a debit card the money goes straight out of one's account and can cause other payments such as direct debits to fail until the bank's been persuaded to reimburse you. I have heard of cases where that's taken a while but I don't the circumstances, for example, whether the bank thought there person had been careless.Also with credit cards one does get 2-3, maybe 4, weeks free interest if one pays the full amount owing each month. 

Michael Ixer ● 1189d

Agreed. Since the start of the pandemic i've used my card solely, in fact for the first time in 3 years I went to use a cash point a couple of months ago and it immediately ate my card :(

Matt Palmer ● 1189d

I tend to agree with Gabrielle. Where I am old fashioned is that I keep a running paper manual total as I spend or money comes into the account  then x check it periodically with the on line account.My missus manages to shop using the debit card and she could tell you her balance to the penny. But each to their own and whatever folk feel most comfortable with.

Andy Pike ● 1189d

Why would I need a credit card, I don't do credit I don't need to. But why keep getting your card cloned at petrol stations etc.

Barbara Stevens ● 1189d

Sorry but this "not being able to track" and "spend over" by using a credit card is just not right. Online banking shows you your exact level of expenditure and you can also download the app if out and about and want to check your expenditure.I'd say that is easier to track then just having £100 in your purse and spending that and having to constantly add up how much you have left of that.

Gabrielle OMahony ● 1189d

Don't actually disagree Andy, but for an ordinary woman who continually is buying food shopping,bits and pieces, continually paying by card you have to keep an eye on what you keep spending, then hair dressers paying all the bills. No good waiting for a monthly statement.  That's why a lot of youngsters are in dept.  If you draw out so much cash you know what your spending.

Barbara Stevens ● 1189d

Pre pandemic I was very much cash is king. However when pubs had to use card payments I found it easier tha  expected and much more convenient. Now I tend to use card almost exclusively though always have cash as backup and for the bookies. Will never bet with card.There is room for both.

Andy Pike ● 1189d

There's a couple of serious points coming from this discussion.Firstly, is the demise of high streets down to changing patterns in shopping with the accelerated move to internet purchases during the pandemic, or is it landlords being either greedy with unrealistic rents or manipulative keeping premises empty to try and influence planning decisions? (I suppose if you're a believer in conspiracy theories it's deciding whether it's the traditional landowners demanding their feudal dues or the high tech lizards taking over the world ;-) ?) Or is it changes in people's lifestyles, preferences and economic circumstances that's driving the changes¿ Secondly, there's the move away from cash. Personally, I quite like using credit cards and contactless, it's quick and efficient - plus I get a statement each month of where my money's going! However, there is a downside if the systems fail; I don't believe many businesses have really invested in looking at the resilience aspects whether that's technology failure, cyber attacks or just  plain old power failure (although if the if there's no electricity modern tills can't take cash either). Still, when I was meeting some mates in the Rocket a couple of weeks ago I got out of buying a round 'cause their card payments system was down and I didn't have any cash :-) Of course there is the issue of data accumulation and tracking with card usage (an issue with TfL and other transport electronic ticket systems) but that's surely why we need strong data protection an privacy legislation such as the GDPR and the corresponding protocols in the ECHR?

Michael Ixer ● 1189d

The Bricklayers Arms takes cash.

Adrian Pearce ● 1189d

Agree Paul, we went to the Prince of wales Pub a few months ago, only because they had Tarot card readers etc, which I am interested. My other half went with me as I don't walk to well. He went to buy a Pint, they would only take card, so he declined on principal. So he just sat out the back room waiting for me. Good job I wasn't long.

Barbara Stevens ● 1189d

It’s not just Poundland many shops have closed due to the ridiculous lockdown and people turning to on line retailers. Make an effort to buy your Christmas presents locally. Ideally use cash for any purchase. Our high street will be flats and charity shops if we don’t change our habits, and cash will not be accepted.

Paul Beer ● 1189d

Still open today. saw people buying couldn't see how empty shelves were.

Barbara Stevens ● 1191d

Yes I miss select and save as well, they had a bit of everything.

Barbara Stevens ● 1191d

oh dear. blackrock don't have the best reputation unfortunately. I'll be sorry to see Poundland go, as others have said, it was handy for those bits and pieces you couldn't find elsewhere. That's why i used to like Select and Save. Lacy Road independents...please don't tell me that Blabar might go???

Maxine Campbell ● 1191d

Can you explain the benefit to residents of Putney BID?

Penelope Becker ● 1192d

Perhaps the previous and new occupiers are part of the same corporate chain, or the lease has been sublet by an intermediate leaseholders? Not sure, my understanding is commercial leases can be quite complex but someone like Nick G can possibly explain?

Michael Ixer ● 1193d

How come poundland is closing when the shop on the corner of the alley next  to it has just opened up, I cannot understand how just one shop (a necessity) is going or are the others to shut to. Seems a shame as I am sure many pensioners and young alike will miss it

Maureen Smith ● 1193d

Does anyone know when they will be starting the redevelopment? I really hope it’s soon so we don’t have empty units for ages till they begin the work

Lauren Fleet ● 1194d

Giuliano's included?????

Ivonne Holliday ● 1194d

Blackrock will be redeveloping Putney Exchange along to Lacy Road, the whole block, that's why they let the Palmhouse go, and not renewing leases, including Poundland and Lacy Road independents

Penelope Becker ● 1194d

I also spoke to the staff.  They said Monday is last day and that they were told that Poundland is pulling out of Putney permanently.  Of course it's possible they've not been told of future plans but I am suprised they're not willing to say they may be back.

Adrian Pearce ● 1194d

I have to say Poundland was very useful for purchasing some cheap reading glasses while I'm waiting to get an eye test and proper prescription glasses following a cataract operation. Very useful for cheap note pads, and at one time handy for cheap HDMI and expandable USB cables, etc. My wife overheard someone speaking with a member of staff who confirmed it was closing but didn't know why and wasn't aware of it moving elsewhere - of course management could have other plans they haven't disclosed? (Also, perhaps Nick knows something we don't?)Must admit it's not one of my frequent shopping destinations but useful for some things and perhaps says something about Putney landlords and the decline of the High Street?

Michael Ixer ● 1194d

Hasn’t Nick implied that Poundland is moving somewhere else in Putney? Though I have to say I think M and S is a far greater loss than Poundland and would really like to see a Foodhall in PHS

Jane Carter ● 1194d

They're closing on Monday.... said landlord wouldn't renew lease. Sad loss

Putney Society ● 1194d

Where are they moving too? It’s a shame the high street is looking so run down.

Ellen Rashbrook ● 1194d

I've heard that they're moving premises, and that they're closing.... has anyone asked them directly?

Victoria Diamond ● 1194d

How anyone living in Putney laments the possible closure of Poundland I don't know. The rest of us in the real world wonder what the hell you are on about.

Paul Rolink ● 1195d

Very handy store for cheap products. Shame it's going.

Simon Sharp ● 1195d

Wait till you see where they’re going …..Penelope will be there for the opening .

Nick Gulliford ● 1195d

Penelope and I blame the BID!

Matt Palmer ● 1195d

You know it's bad when poundland pull out ! Not that they have much for a pound these days that's worth it.

Andy Pike ● 1195d