32 Facts About Poundland

Poundland is a British variety store chain founded in 1990, selling most items at the single price of £1, including clearance items and proprietary brands.

Poundland acquired closest rival 99p Stores in 2015, which left Poundworld as their closest competitor until it went bankrupt in 2018.

Since August 2018, Poundland has been the category killer of the pound shop format in the United Kingdom.

Poundland opened their biggest retail store in February 2022, around three times the size of an average Poundland store, selling a wider range of foodstuffs.

Poundland was co-founded by Dave Dodd and father and son team Keith and Steven Smith in April 1990 with a starting capital of just £50,000 and an office in Sedgley.

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Former CEO Jim McCarthy suggested there is a misconception that Poundland is a better business in a recession, saying that they are better during normal economic conditions, but robust enough to manage well under any economic conditions.

On 4 May 2010, it was announced that Poundland had been sold to US private equity firm Warburg Pincus for £200 million and was the subject of an initial public offering in March 2014.

Company acquired 99p Stores in 2015, which was followed by a drop in its share price from 350p to 150p; in August 2016, the now-struggling Poundland was sold to the South African company Steinhoff International for £610 million.

In October 2020, Poundland announced they had purchased Frozen Value Ltd, a frozen food retailer known for the Fulton's Foods chain of convenience stores.

In 2021, Poundland introduced a new 'corner shop' convenience store format called Poundland Local, with a number of the acquired Fultons Foods shops being converted into the new format.

The first Poundland Local opened in Kendray on 21 May 2021, with a second store opening the next day in Hornsea.

In February 2022, Poundland opened their biggest retail store at Riverside Retail Park, Nottingham, in a former multi-outlet clothing store previously housing Dorothy Perkins, Topman, Topshop, Burton and Miss Selfridge, which closed following the collapse of parent Arcadia Group in 2020.

The new Poundland outlet sells a wider range of foodstuffs including beer, wine and spirits, fresh fuit and vegetables in addition to chilled and frozen, which is planned to be rolled out to further stores during 2022.

Poundland offer approximately 3500 products, of which 1000 are branded, mostly food and drink.

Poundland were reported to be Britain's largest seller of batteries in 2009, stocking brands such as Sony, Panasonic and Kodak in competitively priced quantities, with Kodak AA batteries being a high seller 2009.

Poundland sell large quantities of their stock to other retailers off-the-shelf, where it is cheaper for these retailers to pay £1 each for a bulk purchase than it would be to pay a discounted bulk-purchase rate elsewhere.

In 2018, Poundland announced that it will stop selling kitchen knives in all stores across the UK following a surge in knife attacks.

Poundland's typical appeal to low-income households is a reputation they are seeking to distance themselves from, as they expand into mainstream shopping centres and districts, with a focus on attracting higher earning consumers.

Boots responded to the findings by suggesting that the products available in Poundland stores were likely excess stock they had sold off below cost price which had been destined for overseas markets, with some directed into UK distribution without their permission.

Growth slowed until early 2008 when Poundland took advantage of the economic downturn to further expand at an average rate of 3.

Poundland have seen increases in turnover year on year, helped by an increase of store openings and turbulent economic conditions in the mid-2000s.

Where some high street shops reported a downturn in profits during the financial struggle, Poundland experienced growth attributed to rapid price inflation of numerous household necessities, including increased sales of toothpaste and tinned food.

On 2 August 2011, Poundland announced plans to expand into mainland Europe under the name Dealz.

In 2008, Poundland faced controversy by green campaigners over transporting Polo peppermints 7,300 miles into the UK from Indonesia, rather than sourcing the product locally and in spite of being close to the Nestle Rowntree's factory in York, which has made the mint since 1948.

Poundland insisted it was cheaper for them to source the product from overseas, including transport costs; the mints were transported by ship, not by air, lessening the environmental impact to some degree.

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In 2010, Poundland were fined £4,000 after a customer suffered injury due to a defective fishing catapult and in the same year fined £3,500 for selling lighters that produced a flame causing the device to melt during normal use.

In 2005, Poundland was fined £3,000 after being found of blocking fire exits, with a further breach in 2011 that incurred a fine of £20,000 and evacuation of a store due to poor fire safety.

Poundland were fined £24,000 in June 2012 following an investigation of a store in Croydon, London.

Poundland admitted failing to withdraw food unfit for consumption, failing to control mice and failing to ensure the store was well maintained and clean.

In June 2015, Poundland were fined £10,000 following an investigation by Islington Council of a store in north London.

In November 2017, Poundland signed a deal with British online shopping retailer musicMagpie, to receive supplies of used CDs, DVDs and Blu-Rays, which are then sold for one pound as part of Poundland's Replay range.

The complaints were upheld and Poundland told not to show the posts in their current form again, as well as ensuring their adverts were presented with a sense of responsibility and did not cause offence.