which poundstretcher stores are closing

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In September 2012, the group had 400 stores in the United Kingdom. Poundstretcher is considering closing up to a quarter of its stores following a review of its finances, according to reports. With over 350 Poundstretcher stores located nationwide across the UK, this store has everything for money-conscious shoppers. The firm has hired accountancy giant KPMG to review its finances. More than half of Poundstretcher's stores are at risk of closure as the high street discount chain prepares to launch a radical restructuring plan that will seek steep rent cuts from landlords. Which Sainsbury’s and Argos stores will be closing? Most of its stores have remained open since the coronavirus pandemic struck Britain, because they sell food and medicines. The high street discounter is drawing up plans for a CVA that could be launched within days, Sky News learns. The application says the gym would be staffed from 8am to 10pm on Monday to Saturday and 8am to 8pm on a Sunday. Since March, Debenhams, Monsoon Accessorize, Cath Kidston, Laura Ashley, the UK arm of Victoria’s Secret, Oasis and Warehouse have all called in administrators, leading to store closures. Toilet Roll, Kitchen Roll & Tissues. Poundstretcher, in Martins Quarter, St Martin's Gate, will close on Friday, August … Poundstretcher stores were gradually being rebranded to ...instore, however in 2006, a new chief executive concluded that the rebranding was not working, and from June 2009, new stores were opened as Poundstretcher after Instore plc was acquired by the Crown Crest Group. Poundstretcher recently confirmed plans to convert its entire store estate to its Bargain Buys fascia. Poundstretcher is reportedly in talks to close a quarter of its UK stores, in a restructuring plan that could place thousands of jobs at risk. Poundstretcher could close over half its stores – more than 250 outlets affecting more than 2,000 jobs – as part of a planned rescue restructure. It emerged last week that Poundworld is considering closing 110 of its 355 shops. Newport's Poundstretcher has posted 'closing down' sale signs in its High Street windows, two months after the firm, which has 450 stores across the UK, revealed financial troubles.. A number of landlords are understood to have been paid arrears, with the CVA proposals said to allow for all remaining arrears to be paid if the proposal is approved by creditors. Cut-price retailer asks landlords to back CVA insolvency process as part of rescue restructure, Tue 16 Jun 2020 16.26 BST Poundstretcher is seeking to restructure its 450-strong store portfolio, to stem losses from underperforming outlets, reduce head office costs, and to invest in its core estate and product offering. Our fantastic value means customers can kit out their homes and stock up on branded household essentials for less! Since March, Debenhams, Monsoon Accessorize, Cath Kidston, Laura Ashley, the UK arm of Victoria’s Secret, Oasis and Warehouse have all called in … Bed Bath & Beyond has announced the first 63 stores it will close by the end of the year as part of a restructuring plan brought on by Covid-19. Poundstretcher Opening Times And Store Locations. Founded in 1981, Poundstretcher was one of the UK’s first discount stores. Chris Edwards, the founder of Poundworld, has stepped down from his role at rival Poundstretcher after just six months.Edwards, 67, was parachuted into the discounter last October in a bid to revive The M&S has long gone - … Poundstretcher's stores are open as normal because the retailer sells cleaning and food products. In March 2019 it entered a CVA and said it would close stores. HIGH STREET discounter Poundstretcher will ‘close a quarter of stores’ following a review its finances by KPMG. Founded in 1981, Poundstretcher was one of the UK’s first discount stores. Stores closing in 2020: Up to 1,200. Industry website The Grocer have reported that discount retailer Poundstretcher are set to close a quarter of its stores after a bleak review of its finances.. Poundstretcher have four stores in Edinburgh and the Lothians. Poundstretcher joins other stores which have closed at Mill Gate in recent months. Despite continuing to trade, Poundstretcher opted not to pay landlords in March. Poundstretcher is considering closing more than half of its UK stores as part of a survival plan. More than half of Poundstretcher's stores are at risk of closure as the high street discount chain prepares to launch a radical restructuring plan that will seek steep rent cuts from landlords. The struggling retailer is grappling with landlords to lower rents after the … “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.”. Bargain retailer Poundstretcher could close over 250 outlets, more than half of its stores, as part of a survival plan. The high street discounter has already closed around 30 stores during lockdown, in some cases permanently where leases have expired, according to a source within the company. Staff at Poundstretcher say stores across the country are a high health risk and should be closed after describing the working conditions as a “joke.” Poundstretcher is considering closing up to a quarter of its stores following a review of its finances, according to reports. It is the latest in a number of store closures over recent months which has seen Holland & Barrett, Peacocks and Thorntons all depart the Mill Gate. More than half of Poundstretcher's stores are at risk of closure as the high street discount chain prepares to launch a radical restructuring plan that will seek steep rent cuts from landlords. Poundstretcher is closing around 250 of its 450 UK stores - with the loss of around 2,000 jobs. Poundstretcher did not respond to a request for a comment. Poundstretcher is closing around 250 of its 450 UK stores - with the loss of around 2,000 jobs. Share this article via facebook Share this article via twitter Share this article via messenger. Poundstretcher, in Martins Quarter, St Martin's Gate, will close on Friday, August … A DISCOUNT store in Worcester is set to close its doors this month. Founded in 1981, Poundstretcher was one of the UK’s first discounters. Half of Poundstretcher stores are at risk of closing for good Credit: Alamy. Poundworld is the latest high street store hit with the sad news it could be closing down. The plans are being deliberated at a time of unprecedented high street turmoil, with many retailers drawing up plans for permanent shop closures even as they prepare to reopen others after being closed during the coronavirus lockdown for nearly three months. All rights reserved. It was bought out by entrepreneurs Rashid and Aziz Tayub’s Crown Crest group in 2009. Sky News has learnt that Poundstretcher is weighing a company voluntary arrangement (CVA) that will urge shop-owners to cut rents at about 330 of its 450 stores across the UK. Yo Sushi confirms plans to close 19 stores and axe 250 jobs - full list. Poundstretcher management say they have only closed a handful of shops as they strive to keep the business going during the Covid-19 lockdown. A DISCOUNT store in Worcester is set to close its doors this month. Christmas Cards, Gift Wrap & Accessories. Rival Poundworld collapsed two years ago. Poundstretcher has become the latest chain to face problems as the discount retailers are hit by rising inflation and declining consumer spending. Sources said that 250 of those outlets would see rent paid in full for an initial six-week period, after which their continued trading would depend on the outcome of commercial discussions with landlords. Poundstretcher could not be reached for comment, while KPMG declined to comment. Poundstretcher, which is closing on East Street in Bedminster on July 31 (Image: Bristol Post). The Poundstretcher store in Exeter Street, Plymouth (Image: Google). The vitamins and supplements retailer has filed for Chapter 11 bankruptcy and says it will close 800 to 1,200 of its stores. For great value and variety in Garden, Storage, Kitchen, Bedding, Furniture, and much more please visit one of our 400 stores also don’t forget to sign up for our exclusive offers! The retail group was once part of listed company Brown & Jackson, which was controlled by South African retail tycoon Christo Wiese. Last year sales rose 12% to £434m but the group sank to a loss of £227,000 from a profit of £2m a year before, according to accounts filed at Companies House. Poundstretcher now hopes that KPMG’s review of options will provide measures such as closing unprofitable stores, although it is uncertain whether Tayub is seeking to sell the business. Coronavirus: Poundstretcher shops face closure as CVA looms, Poundstretcher stores have largely remained open during the UK lockdown Pic: Poundstretcher.com, Monsoon Accessorize confirmed store closures and job losses on Wednesday as retail adjusts to the pandemic's effects. Bargain retailer Poundstretcher could close over 250 outlets, more than half of its stores, as part of a survival plan. Poundstretcher in Newport will be closing its doors by the end of the month as part of the company’s nationwide rescue. Job losses. A further 23 stores could also shut as Poundstretcher plans to put into administration a subsidiary group which owns the properties. Almara Abgarian Wednesday 25 Sep 2019 1:24 pm. The troubled retailer also has branches in Congleton, ... Christmas chaos and borders closing. It said 253 outlets could potentially close if significant rent cuts or holidays could not be agreed. “Please know we explored every possible avenue to continue trading but the financial impact of the pandemic means the business is no longer sustainable,” said Alison Doherty, the brand’s chief operating officer, in an email. Food Wraps & Storage. Poundstretcher recently sought to open 50 new stores despite launching a store closure programme in an effort to cut costs. Christmas Gifts By the end of the financial year Poundstretcher operated 394 stores, having added 44 and closed 35 as it sought to close older, smaller stores and open larger branches in prominent, out-of-town sites and retail parks. 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