Same went for their rivals, Poundworld and 99p Stores, both of which have already long since bitten the dust.

Meanwhile their rivals that don't bother with the fixed price gimmick (B&M, Home Bargains, Poundstretcher) seem to be doing better.

Poundland is never as cheap as you think it will be, anyway, even when they do stick to under £1. They just sell smaller packages of products than other shops; it's not like they're selling anything at a loss.