Closing down signs appear on Great Barr Poundland as 'one month left'

Closing down signs have appeared on the windows of a Poundland store in Great Barr.

The signs were spotted on the windows of the store on Walsall Road earlier this week as locals say there is just a month left to go.

Residents have said the store is set to close on October 25.

Signs on the windows stat that ‘this store is only is closing down’ and directs customers to the nearest store in Perry Barr.

The news comes as the West Midlands-founded company shut more than 100 stores across the UK as its undergone a major overhaul under Gordon Brothers, amid efforts to turn around significant losses and offset weak consumer demand.

Recovery efforts have focused on simplifying the business, including by cutting stores but also by overhauling its pricing structure.

It has returned to a simple £1, £2 and £3 grocery pricing across all its UK shops, and rolled out simpler pricing for its general merchandise and clothing ranges.

The owner recently launched a sale process for the discount chain, with hopes to sell the business within weeks.

The proposed sale comes after private equity firm Gordon Brothers only bought the business last June for £1.

Gordon Brothers, which has overseen a major restructuring of the business, has hired corporate advisory firm Alvarez & Marsal (A&M) to sound out potential buyers.

It is understood A&M launched the formal sale process on Wednesday and will start to talk with potential suitors for the retailer amid initial interest from a number of parties.

Sky News reported that TG Jones and Hobbycraft owner Modella is among groups to have already made approaches regarding their interest.

Poundland have been contacted for a comment.