Poundland has been sold for £1

It did well to last as long as it did

When you could genuinely buy equivalent goods cheaper there for £1 it was great. Once half the pringles tube was empty and only 3 choc bars in a 4-pack, people cottoned on.

Around 100 stores are expected to close, and rent reviews are also expected to be negotiated with Poundland landlords.

The chain, known for selling products for £1, was put on the market earlier this year after a downturn in trading. Employers' tax hikes announced by Chancellor Rachel Reeves in the November budget increased the financial pressure on high street retailers.