By Liz Wells in Industry News 16th June 2020 Discount retailer Poundstretcher may have to close around 250 stores if significant rent cuts or holidays can not be agreed on. Poundstretcher needs to secure at least 75% creditor approval by value for the CVA for it to proceed. Sky News reports a restructuring plan is needed to rebuild the company during a difficult time for a number of businesses. The move puts more than 5,500 jobs at risk. Retail meltdown: Now Poundstretcher is in trouble . Chris Edwards was parachuted into the high-street chain in October to revive its fortunes. June 11, 2020 . The accounts blame falling margins on âsales price pressureâ and increasing overheads on factors such as wage inflation. Turnover surged past the £400m mark at the company behind discount national retailer Poundstretcher during its ⦠By Rob Smith Madeley Published: Oct 3, 2020 Last Updated: Oct 3, 2020 A Poundstretcher shop in Telford was broken into in the early hours of this morning. It seems like half of Goole has come down. Poundstretcher in Newport will be closing its doors by the end of the month as part of the companyâs nationwide rescue. Turnover surges at Poundstretcher parent but losses widen 1 Apr 2020 Midlands. Sky News comprend que la société a engagé KPMG pour conseiller sur les options de renforcement de son bilan. The move is affecting around 120 warehousing staff who have been told that they can move to Leicester if they wish. Their stores provide shoppers with unbelievable selection of value for money items, ranging from 49p up to £150. News. News | Emily Gill - Local Democracy Reporting Service | Published: 09:51, Thursday May 7th, 2020. He said: "It is absolutely crazy at Poundstretcher with everyone coming down to grab a bargain. Poundstretcher offers more than 5,000 products at some of the lowest possible prices on the high street. It is now the largest convenience store and cafeteria business servicing British hospitals. An application has been submitted to Caerphilly County Borough Council to convert the store in Castle View shopping centre. [ November 24, 2020 ] Data shows a drop in Thanetâs covid case rates News [ November 24, 2020 ] Offer to join free, 3D workshops with Crate Events [ November 24, 2020 ] Opinion with Seb Reilly: The danger of the coming cold Opinion [ November 24, 2020 ] Thanet Winter Shelter opening celebrated with meal delivery News Discount retailer Poundstretcher is set to relocate its warehouse operations from Huddersfield to Leicestershire. Last updated: 13:19, Thursday May 7th, 2020 The Poundstretcher store in Castle View could become a gym. Subscribe to our daily newsletter! Detailed proposal documents will be made available to creditors via a dedicated website today. Poundstretcher closes this weekend (Image: Manchester Evening News). The latest breaking news, comment and features from The Independent. More than 90% of creditors approved the Company Voluntary Arrangement (CVA), which has secured rent cuts of between 30% and 40% for 84 of its 450 stores over the next three years, while around 94 stores will continue to pay ⦠Business. Bangor's popular Poundstretcher shop has closed with immediate effect this morning.. Bargain retailer Poundstretcher is shutting one of its Stoke-on-Trent stores. Poundstretcher, le discounter de la rue principale, est devenu le dernier détaillant à lancer un examen de ses finances, bien quâil soit lâune des rares chaînes non alimentaires à poursuivre ses activités pendant le verrouillage au Royaume-Uni. No comments. UK News On average, grandparents reported spending nine hours a week caring for their grandchildren in 2020 - up from eight hours in 2019 Inside the £4m mansion with an underground amusement arcade Histoire. POUNDSTRETCHER could close 250 stores as part of restructuring plans putting 2,000 jobs at risk. Poundstretcher chain agrees rent cuts with landlords; KPMG said the 50 new stores would help offset stores lost in the CVA through landlords exercising their ⦠Poundstretcher, which has a main office and distribution centre at Leeds Road, Deighton, is moving warehousing operations 90 miles to Desford, Leicester. July 6 update: Poundstretchers has had its CVA proposal approved. Doubts hang over Poundstretcherâs ability to continue as a going concern, the company has said in newly filed full-year accounts. Plymouth City Centre. Poundstretcher has officially the doors to a brand new store in Cornwall. The CVA put more than half of Poundstretcher's 450-store estate at risk as it seeks rent reductions. Detailed proposal documents will be closing its doors by the end of the companyâs nationwide rescue Facebook page simply they! Poundstretcher needs to secure at least 75 % creditor approval by value for items! - Local Democracy Reporting Service | Published: 09:51, Thursday May,... 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