Poundstretcher could close 250 UK stores

Cut-price retailer asks landlords to back CVA insolvency process as part of rescue restructurePoundstretcher could close over half its stores – more than 250 outlets affecting more than 2,000 jobs – as part of a planned rescue restructure.The cut-price retailer, which also owns the Bargain Buys chain, is asking landlords and other creditors to back a creditors voluntary arrangement, an insolvency process under which it wants to slash rents on 84 stores by more than 30%. Continue read