Store closing and 75 per cent off sale signs covered the outside windows of the store located on Warwick Road in the town centre.
The store will close next Friday on January 17.
A spokesperson for Poundland said: "We're always sad when we have to say goodbye to a location - especially one like Kenilworth.
"At this stage we don't currently have news to share on what's next.
"In the meantime we will, of course, do what we can to look after colleagues who are affected."
The store opened in early 2016 after it replaced the old 99p Store in the same location.
Before the store’s opening, the nearest Poundland to Kenilworth was over four miles away in the Parade in Leamington.
Poundland took over 99p Stores in 2015.