Poundland to shut 44 of its shops, including Newark's in St Mark's Place

Poundland, which has a Newark store, is set to close 44 of its shops.

Despite being allowed to trade as an essential retailer, the chain said outlets across the UK will go in to 'hibernation' after they close on Saturday.

It is to allow the business to focus on larger stores in consolidated areas.

The Newark store will be closing from tomorrow, it has been confirmed.

It follows an 80% drop in footfall since the start of the coronavirus pandemic, after shopping centres and high streets were forced to close their doors.

Where appropriate, colleagues in hibernating stores will be placed on furlough, the company said.

Austin Cooke, Poundland’s retail director, said: "We learned valuable lessons during the lockdown in March about how buying patterns change as people stick to government advice to stay at home.

"Putting a small number of stores into hibernation helps protect them for the long term and focus our attention on the majority of stores that remain open to serve their neighbourhoods.

"We hope this lockdown is short and we can re-open our hibernating stores as quickly as possible and we remain grateful for the vital support schemes available to us that help protect jobs."

Around 800 Poundland stores will remain open.