Poundland Blames Lease Expiry for High Street Closure
Discount shop latest business to quit Putney
Poundland on Putney High Street. Picture: Google Streetview
The branch of Poundland in Putney has closed in another blow to the local High Street.
The outlet close to the entrance of the Putney Exchange was at number 78-80.
Staff at the store were informed of the move last month in the latest of a number of high profile closures in the main shopping area. There have been some new openings announced including the recent arrival of Itsu nearby.
It appears that the retailer decided not to renew its lease and that no replacement tenant is immediately available.
The move contrasts with the company’s general strategy in the UK. It announced this August that it intended to open or relocate 25 stores before the end of the year. The chain is expected to be one of the more resilient retailers in the coming recession with consumers increasingly looking to value offerings.
A spokesperson for Poundland said, “Sadly, the lease on our Putney store had come to an end and we’re as disappointed as our customers and colleagues that the store has closed. Where we close a store, it goes without saying that we always work hard to look after colleagues directly affected.”
The unit which has 2,532 sq ft of space on the ground floor and another 1,200 on the first floor is now being advertised by estate agent Colliers. The expected rent was not included with the particulars.
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November 3, 2022