The discount chain says it failed to secure new lease terms for its High Road Leytonstone site, reports Marco Marcelline
Poundland is set to shut its Leytonstone store on Sunday, 17th May after it failed to secure new lease terms for the site.
The 5,800 sq ft store in High Road Leytonstone began a clearance sale with discounts of up to 40% last week (24th March).
The discount chain has been battling slumping sales for some time, and last year it was bought by retail focused investment firm Gordon Brothers for a nominal one pound sterling.
But Poundland has said the closure of its Leytonstone store is not linked to its recent restructuring, which saw it ending 2025 with 651 shops, compared to over 800 before reorganisation.
A spokesperson told the Echo the closure was “a consequence of standard business-as-usual lease events expected at a retailer with a large store network, not because of last year’s restructure”.
They added: “Sadly, we’ve been unable to secure new lease terms in Leytonstone which is why we have begun a clearance sale ahead of the store’s closure with discounts of up to 40%.
“We look forward to continuing to welcome shoppers to our stores at Leyton Mills on Marshall Road and Palace Parade in Walthamstow.”
The Echo understands that staff will be offered roles at other Poundland stores.
According to real estate company Savills, the landlord is accepting rental offers on the site in excess of £180,000 per annum.
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