Jun 16, 2020

Poundstretcher could close more than half its UK stores

Poundstretcher is considering closing more than half of its UK stores as part of a survival plan. A spokesperson said that the talks form part of a wider restructuring plan aimed at "Stemming losses" from underperforming stores. A further 23 stores could also shut as Poundstretcher plans to put a subsidiary group that owns them into administration before the deadline for voting on the plans. "With the directors of the business having explored a number of options, this CVA seeks to safeguard the long-term future of the business, across a smaller, more sustainable store estate." On Monday, the UK's biggest building merchant Travis Perkins announced the closure of 165 stores.

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