Poundstretcher vows not to cut stores or jobs as it launches restructure

Discount chain with 30 Scots stores launches rescue plan that rules out closures

The proposed plans will see the business renegotiate rents with landlords, safeguarding stores and thousands of jobs.

Poundstretcher rules out store closures as retailer eyes major shake-up

Poundstretcher has made a major announcement regarding its future as it prepares to carry out major restructuring plans.Earlier today, the discount retailer pledged it will not shut down stores or slash jobs in an effort to cut costs.Furthermore, Poundstretcher has announced it will approach landlords seeking rent cuts across its entire UK store network as part of efforts to safeguard the business for years to come.The discount chain, which oper…

Poundstretcher vows not to cut stores or jobs as it launches restructure

The discount retailer said the overhaul will aim to reduce rents and other costs linked to shops.

Poundstretcher Seeking Rent Reductions As Part Of Restructuring Plan

Poundstretcher, the struggling discount retailer acquired by private equity firm Fortress in early 2024, has revealed it is moving ahead with a restructuring plan to reduce costs across its estate and free up funds to improve its stores. The proposal will (more…) The post Poundstretcher Seeking Rent Reductions As Part Of Restructuring Plan appeared first on KamCity.

Fortress moves to restructure UK discount retailer Poundstretcher

Fortress Investment Group is preparing a restructuring plan for Poundstretcher Ltd, just two years after acquiring the discount retailer, as the UK high street continues to face pressure from weak consumer demand and rising costs, according to a report by Bloomberg. The proposed plan, which requires court approval, would cut rents by at least 25% on roughly 50 stores and eliminate rent entirely for another 50 underperforming locations. Landlords…

Poundstretcher rules out store closures as it launches rent-cut restructuring plan

Poundstretcher has said it is not planning any store closures or redundancies as it moves ahead with a major restructuring plan focused on reducing property costs across its estate. The discount retailer, which operates more than 300 stores and employs around 3,000 people across the UK, said it will approach landlords to renegotiate rents as part of efforts to secure the long-term future of the business. The move comes as retailers continue to f…