The discount store Poundland is closing many stores this year as part of a reorganization of its UK stores. In 2021, up to 50 store closures are expected, which will result in a total of about 460 stores by the end of the year. The stores that will be closing have not yet been disclosed, but the company has indicated that more details will be revealed in the coming months. It appears that the closures are part of the company’s efforts to optimize its retail estate in order to save costs amid the economic crisis caused by the coronavirus pandemic. The discount retailer has also announced plans to open 25 new stores in 2021, leading to a net reduction in the total number of branches. This move is expected to save the firm £24 million ($33 million) by the end of 2021. Poundland is also investing £15 million ($20 million) to improve the digital capabilities of its stores in order to provide customers with a better shopping experience. In addition, the firm has launched its new loyalty app, which gives customers access to exclusive offers and discounts. The news of the planned store closures has been met with sadness from customers, who rely on the discount store for their necessary items. Poundland is still expected to remain one of the major discount retailers in the UK, and its stores could remain an important lifeline for those on a budget during these challenging times.