Poundland stores in Musselburgh and Livingston face uncertain future as business nears collapse

Poundland stores across the Lothians face an uncertain future as the discount store gets closer to collapse.

Its stores in Musselburgh and Livingston remain open, despite the business filing a notice to appoint administrators this afternoon.

Managing director Barry Williams thanked the company's staff, suppliers and customers for their “continued support” .

Owner Gordon Brothers will now have 10 days to find a rescue deal before the creditors descend just 16 months after buying the bargain store giant for a symbolic £1.

Mr Williams said he would be “working closely with advisors to identify and deliver the best possible outcome”.

The Lothian Road store closure means the nearest Poundland is now in Musselburgh or Livingston | Iconic

The news comes just four days after the retailer closed its Lothian Road store following a dispute over its lease, the latest in a string of branch closures in the Capital.

Poundland’s Princes Street, Cameron Toll, Abbeyhill and Leith stores have all closed, leaving Musselburgh and Livingston as the nearest branches to Edinburgh.

It is understood the likes of B&M and Poundstretcher are all eyeing up potential store takeovers.

The business already shut down nearly 150 shops and axed 2,200 jobs as part of a major restructuring late last year.

Addressing future closures at the time, the company stated: “Any further closures will be a consequence of standard business-as-usual lease events expected at a retailer with a large store network.”

The news follows a tough period for staff at the discount giant which has already shut down nearly 150 shops | Third Party

Mr Williams said: “Over the past two months, initially prompted by interest from several parties, we have been working on a formal sale process for Poundland.

“Despite enormous efforts, it has not been possible to identify an acceptable offer for the business as a whole.

“The process has however attracted several established retail operators who have made formal offers, collectively these cover a significant part of the business, and we believe offer the best available prospects for shareholders, creditors and to preserve jobs.

“We recognise any sale process creates uncertainty and particularly when set against a challenging UK economic environment.”

While the final outcome remains unknown, more store closures and job losses appear likely.

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