Bloody hell. Another one bites the dust.
I was walking through Gravesend yesterday (my sister lives there, don't ask) and noticed the depressing "Everything Must Go" signs plastered across the Poundland windows. The St George's Centre branch is closing TODAY - like, in a couple of hours. By the time you're reading this, it's probably already gone.
What's left of Gravesend, anyway?
The locals I chatted with were proper fuming. One bloke, probably in his 60s with that typical Kent accent, didn't mince words: "What a dump Gravesend has become." Hard to argue, mate.
Another woman clutching her shopping bags just shook her head and said, "All teh decent shops have gone." And she's right.
I remember visiting this town centre back in 2019 and it was... well, not exactly Oxford Street, but at least it had a pulse. Now it's like watching a slow-motion car crash. The market that used to be "bustling" (estate agent speak for "people actually went there") is now just a sad collection of stalls selling phone cases and questionable meat.
The domino effect nobody wanted
This isn't happening in isolation. The shopping centre's already lost Argos, WHSmith, and that quirky little gift shop Don't Panic (my niece loved that place - got her a birthday present there last year that cost me £12.50 and she still has it).
One resident I overheard in the queue at Greggs summed it up perfectly: "The town has lost so many shops and the market used to be bustling, now it's dying bit by bit, be a ghost town."
Ghost town. That phrase keeps coming up.
Poundland's corporate spin machine
When I reached out to Poundland for comment (ok fine, I just checked their press statement), they gave the usual corporate line: "It's correct we've sadly decided to close our St George's Centre store on 8 May. Our Imperial Retail Park store is only around half a mile away, and we look forward to continuing to welcome shoppers there."
Half a mile might not sound far to some suit in an office, but try telling that to elderly residents or parents with screaming kids and shopping bags. I've done that walk - it's uphill and takes about 15 minutes if you're moving at a decent pace.
They also claimed they're "doing all we can to support staff" and looking for "other opportunities for colleagues." Translation: some might keep their jobs, others... good luck in this economy!
The bigger retail bloodbath
Gravesend isn't alone in its misery. Poundland's been shutting shops faster than I can eat a packet of their own-brand digestives (which, between us, aren't half bad with a cup of tea).
Just last week, the Clapham Junction station store in London closed on May 2nd. Then the Belle Vale Shopping Centre branch in Liverpool shut on Monday. And later this month, the Brackla store in Wales will be gone too - May 24th is their execution date.
God. Remember when these places were opening everywhere?
What's REALLY going on with Poundland?
The closures might seem random, but there's something bigger brewing. Poundland's parent company, Polish retail giant Pepco Group, is exploring selling off its UK business. They brought in Teneo (fancy corporate advisors who charge more per hour than I earn in a week) back in March to handle the process.
The numbers tell the story. Pepco reported a £641 million profit drop last year. That's not a typo. £641 MILLION. And Poundland's revenue fell 9.3% in the last quarter of 2024.
Rising costs are killing them - minimum wage increases, national insurance hikes, energy bills that would make anyone weep... it's a perfect storm.
Is this the end?
Not quite yet. Despite everything, Poundland still has over 800 stores across the UK and Ireland. They're like that friend who keeps getting knocked down but somehow staggers back to their feet.
But for how long? I spoke to my mate who works in commercial property (he's been trying to get me to invest in some dodgy scheme for years), and he reckons we're only seeing the beginning of the retail apocalypse.
As for Gravesend... poor Gravesend. I'm heading back there next month for my nephew's birthday. Wonder what else will be gone by then.
The high street isn't dying. It's being murdered.
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