poundstretcher closing down sale


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In its latest accounts for the year ended 31st March 2018, Poundstretcher reported sales of £387 million, down 2.5% on the previous year (£397 million). A clothing shop in Bristol city centre is closing down.. Last modified on Fri 3 Jul 2020 23.37 BST. Bangor's popular Poundstretcher shop has closed with immediate effect this morning.. Business-Live revealed earlier this month that the company was on the look-out for potential landlords and agents to support the plans to … DISCOUNT store Poundstretcher is due to shut its store in the Barry Waterfront Retail Park on Friday, September 4. A wealthy businessman and son of the multi-millionaire owner of budget chain Poundstretcher has been killed in a car crash. Earlier this year, Poundstretcher entered a company voluntary arrangement (CVA) and warned landlords at more than 250 branches if new rent agreements could not be reached, stores would close. The high street brand, which rivals Poundstretcher and … Featured Posts. For … Poundstretcher, which is run by businessman Aziz Tayub, was struggling before the coronavirus pandemic. Thus the CVA seeks to safeguard the long-term future of the business, across a smaller, more sustainable store estate.”. 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. Also included is a host of great homeware from Poundstretcher, including low price lampshades, shaggy carpets, desk lamps, laundry bags and heaters – a true winter essential. Poundstretcher Ltd. 13:35, 6 DEC 2020 ... Poundstretcher in talks to close a 'quarter of UK stores' following lockdown. POUNDSTRETCHER could close 250 stores as part of restructuring plans putting 2,000 jobs at risk. It emerged last week that Poundworld is considering closing 110 of its 355 shops. Poundworld is the latest high street store hit with the sad news it could be closing down. See our article comments House Rules here. It was easy enough, but the deliveries can be annoying because we receive items that are already overflowing on the shelves. Businesses are struggling after weeks of closure during the high street lockdown and ahead of the unwinding of the government’s furlough scheme designed to protect jobs. The three stores will run a big £30m clearance sale till after Christmas. If you have a complaint about the editorial content which relates to inaccuracy or intrusion, then please contact the editor here. Poundstretcher is a chain of discount stores operating in the United Kingdom. The regular opening times of Poundstretcher in Glasgow are Monday to Friday 8:30AM-6PM, on Saturday 8:30AM-6PM and on Sunday 10AM-4PM. All rights reserved. But Island business leaders believe there is a way forward for our High Streets and are urging a strategic overhaul of the model for retail and night-time economies on the Island. Even before the high street lockdown, more than a fifth of retail and hospitality businesses – 29,108 – were classed as “zombie companies” by Company Watch. Accepting Backup Offers. Will Wright, a restructuring partner at KPMG and joint supervisor of the CVA, said: “The approval of the CVA provides a stable platform from which the company can continue to operate across a more focused store portfolio.”, Available for everyone, funded by readers. Holly Willoughby, up close and personal Bangor'spopular Poundstretcher shop has closed with immediate effect this morning. The company is asking landlords and other creditors to approve a creditors voluntary arrangement (CVA), through which it is hoping to cuts rents at … © 2020 Guardian News & Media Limited or its affiliated companies. A further 15,300 are thought to have been lost at small high street businesses in the last six months. Poundstretcher has agreed to pay rent on 253 stores for six weeks but could close them after that. COLLAPSED chain Poundworld is set to make a return to the high street after collapsing earlier this year. British high streets have suffered their worst week since the collapse of BHS in 2016, with nearly 9,000 job losses in retail and restaurants and thousands more put at risk. restaurant sales are down 84 percent year-over-year, comparing July 2019 to July 2020. All stores in the group are expected to be shut by July. According to the data they've found, S.F. The high street brand, which rivals Poundstretcher and … Coronavirus: Poundstretcher shops face closure as CVA looms. Their problems are not all the result of the coronovirus. It is based in Deighton, Huddersfield. Poundstretcher, which was founded in 1981 as one of the UK’s first discounters, has agreed to pay the rent 253 stores for six weeks, but warned the owners that the points of sale could close after that if new bids could not be agreed. Sales at established physical stores dived nearly 57% in the week to 30 June against the same week last year as shoppers continued to prefer online shopping rather than a return to high streets, shopping centres and retail parks, the firm’s survey of small and medium sized retailers found. The brand behind Head & Shoulders is suing Poundstretcher over claims the budget retailer has been selling counterfeit shampoo and conditioner. Check out our latest vacancies today! All I ever did was tidying shelves and putting out deliveries. Those ads you do see are predominantly from local businesses promoting local services. DISCOUNT store Poundstretcher is due to shut its store in the Barry Waterfront Retail Park on Friday, September 4. Poundstretcher deals & offers for December 2020 Get the cheapest price for products and save money Your Shopping Community hotukdeals ... (Closing down sale) Poundstrechers in Barry vale of Glamorgan is closing down there store, so everything is 20% off. Nick Hood at Company Watch said: “The situation is going to deteriorate unless there is an unexpected miracle on consumer spending.”. Are you up for the challenge? I’ll also run through examples so you can get an idea of what your estimated cost for each of these might be. Posters have appeared in the windows of Animal in Concorde Street, Cabot Circus, advertising a closing down sale… In June, restructuring firm KMPG said: “One of the UK’s best-known discount retailers, Poundstretcher has suffered from significant impacts to profitability on several fronts over a sustained period, which were then further exacerbated by the impact of Covid-19 on footfall. Discount retailer Poundstretcher is closing a store in North Wales. Poundstretcher admitted 35 offences of supplying or offering for sale faulty or dangerous goods while Crown Crest admitted 14 charges of supplying faulty goods at stores across Wales. Pizza Express named its Newport restaurant as one it would not be reopening while Poundstretcher had closing down sale signs plastered all over its windows. That miracle currently doesn’t appear likely. Regrettably, this process did not produce any solvent offers. If you are dissatisfied with the response provided you can contact IPSO here. About 2,000 jobs at risk after retailer agrees CVA with creditors including rent cuts, Fri 3 Jul 2020 13.59 BST Poundstretcher recently confirmed plans to convert its entire store estate to its Bargain Buys fascia. The nationwide chain was established in 1981, but this year it was revealed that Poundstretcher would have to shut down nearly half its stores after landlords and creditors approved a rescue restructuring. Online sales surged by just over three-quarters, but that was not enough to offset the loss of store sales so that overall retailers took nearly 16% less than the same week last year. There are so many styles and sizes for you t... View Article > Our 10 Halloween picks PLUS free Trick or Treat Game. Poundstretcher could close over half its stores – more than 250 outlets affecting more than 2,000 jobs – as part of a planned rescue restructure. The CRR calculates that a further 32,000 jobs are at risk at larger retailers that have already started an insolvency process. Poundstretcher Ltd. ©Copyright 2001-2020. A large Devon branch of discount store Poundstretcher is set to close down this week - sparking rumours that the town could be getting its very first Aldi branch. The chain has announced it is shutting the … Finding the Perfect Christmas Tree for You. Pebbles Embroidery, run by Jean and George Sharples, has traded from North Street in Carrickfergus for 32 years. A Co Antrim embroidery shop is to close down after more than three decades in business. Poundstretcher, the troubled discount store chain, has confirmed that it wants to open 50 new branches – even as dozens of others are closing. We’re going to break this down in detail. Doubts hang over Poundstretcher’s ability to continue as a going concern, the company has said in newly filed full-year accounts. The furniture retailer Harveys, shirt maker TM Lewin and Casual Dining Group, the owner of Café Rouge and Bella Italia, all called in administrators while SSP, the owner of Upper Crust and hundreds of other railway station and airport eateries, as well as Harrods and the Topshop owner, Arcadia, all announced hundreds of job cuts. Poundstretcher, the high street discounter, has become the latest retailer to kick off a review of its finances despite being one of the few non-food … 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. By Paddy McHugh ) risk at larger retailers that have already started an insolvency process for you t View! 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