Poundland plans to shut 68 stores and two distribution sites

The new owner of the discount retailer Poundland has revealed proposals to close 68 stores and two distribution centres.

Gordon Brothers, the investment firm which snapped up the struggling brand for a nominal sum last week, said its recovery plan "intended to deliver a financially sustainable operating model for the business after an extended period of under-performance".

The company was yet to confirm exactly how many staff would be affected.

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