Profit after taxation declined from £2.1 million to £1.7million. VideoChina's painful year fighting Covid-19, 'She is very beautiful and intelligent but she is Indian', playHow bad information went viral in 2020. playWhat impact has Covid had on global climate? On Tuesday it's open from 08:30 to 20:00, Wednesday open from 08:30 to 20:00, Thursday open from 08:30 to 20:00, Friday open from 08:30 to 20:00, Saturday open from 08:30 … Poundstretcher management say they have only closed a handful of shops as they strive to keep the business going during the Covid-19 lockdown. 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. 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! "They are saying one-quarter of the stores will be shut," the source added. 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 discount retailer is closing down its branch in Dagenham. Under the proposals, 253 stores will pay full rent for an initial period of six weeks, "after which continued trading will depend on the commercial merits of each store with the relevant landlords' collaboration", KPMG said in a statement. The chain has announced it is shutting the shop in the Bay View Shopping … Up to 253 shops are at risk of closure if landlords do not agree to rent cuts or holidays, the discount retailer said. All stores in the group are expected to be shut by July. 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The UK reports a further 41,385 cases as hospitals struggle to cope with rising patient numbers. 99 Sales Assistant reviews from Poundstretcher employees about Management Pet Hut, our specialist pet care offering and the UK’s only discount pet store, is here with your Wednesfield store. Several big brands have been struggling in recent weeks due to lockdown measures introduced in March to stop the spread of Covid-19. The discount supplier has been allowed to keep most of its 450 stores open because of the essential goods it stocks such as food, toiletries, household medicines and even pet food. A number of landlords are understood to have been paid arrears, and the CVA proposals are said to allow for all remaining arrears to be paid if the proposal is approved by creditors. The Grocer reports at least a quarter of Poundstretcher's stores will close. Poundstretcher, which also owns the Bargain Buys chain, has launched a company voluntary arrangement (CVA), an insolvency process that allows companies to continue trading while pushing through closures and rent cuts. It has already closed around 30 stores during the lockdown, despite many staying open because they sell food and medicine, and so are classed as essential. ", "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.". When you subscribe we will use the information you provide to send you these newsletters. .css-1hlxxic-PromoLink:link{color:inherit;}.css-1hlxxic-PromoLink:visited{color:#696969;}.css-1hlxxic-PromoLink:link,.css-1hlxxic-PromoLink:visited{-webkit-text-decoration:none;text-decoration:none;}.css-1hlxxic-PromoLink:link:hover,.css-1hlxxic-PromoLink:visited:hover,.css-1hlxxic-PromoLink:link:focus,.css-1hlxxic-PromoLink:visited:focus{color:#B80000;-webkit-text-decoration:underline;text-decoration:underline;}.css-1hlxxic-PromoLink:link::after,.css-1hlxxic-PromoLink:visited::after{content:'';position:absolute;top:0;right:0;bottom:0;left:0;z-index:2;}Shoppers rush to the High Street as England stores reopen, Coronavirus: The street where shop owners just want to reopen, Concern at 'unprecedented' English infection level. 'Brazen' giant rats 'the size of rabbits and immune to poison' taking over homes, Huge rodents have returned to the town of Litherland, Merseyside, after locals first noticed the problem during the first coronavirus lockdown. But Will Wright of KPMG said the problems weren't entirely due to the virus: "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. Poundstretcher landlords and other creditors have until 2 … PoundStretcher in Wednesfield, Lichfield Road, Wednesfield, Wolverhampton, WV11 3HD, Opening Times, Phone number, Map, Latenight, Sunday hours, Address, Discount Store Alok Sharma confirms retail shops can reopen on June 15th More than 300 Poundstretcher stores are facing closure, the company has announced. "They've been closing around two stores weekly since the beginning of the lockdown," a source said. The lockdown has been brutal for many high street chains, Subscribe to Daily Star and Daily Star On Sunday newspapers, Sign up for the Daily Star's newsletter to get the biggest stories of the day, School reopenings could be delayed until next year to avoid clash with winter flu, Lockdown easing measures Boris Johnson will confirm later today ahead of June 15, UK dad invents world's first 'coronavirus-proof' pram to keep babies safe from Covid-19, Nostradamus' chilling 2021 predictions including brain chips and solar storms, According to legend, 16th-century fortune teller Nostradamus predicted 2021 will see soldiers get brain chip implants while asteroids, solar storms and record famines will humanity, Bank accidentally puts £27m into woman's account – and she gives it straight back, Ruth Balloon was just clocking off from work when she decided to check her bank account – and she could not believe her luck, What 'Tier 5' lockdown restrictions could be as officials warn current system not enough, The UK could be about to introduce an unprecedented new phase of social distancing laws as officials warn Tier 4 isn't "strong enough" to get surging Covid-19 cases under control, Meghan Markle 'quit Royal Family because they weren't powerful enough', expert claims, Royal author and expert Penny Junor believes Meghan Markle decided to step back as a senior member of the Royal Family after realising she could "not be as outspoken as she wanted to be", Meghan Markle's pal who 'introduced her to Harry' says she's 'exhausted' by 2020, Fashion designer Misha Nonoo took to social media to say she's been left "exhausted" and is stepping away from work for the next week. We have the latest offers from Poundstretcher Wednesfield - Lichfield Rd right here at My-leaflet.co.uk! The Grocer has reported that Poundstretcher is ‘looking at closing a quarter of its stores as an outcome of a review of its finances’. Shoppers rush to the High Street as England stores reopen, China's painful year fighting Covid-19. .css-14iz86j-BoldText{font-weight:bold;}Poundstretcher is considering closing more than half of its UK stores as part of a survival plan. A wealthy businessman and son of the multi-millionaire owner of budget chain Poundstretcher has been killed in a car crash. It is strongly recommended that you get in touch with the Store Tel: 01902 238446 before your visit … The coronavirus crisis has created a major crisis for the British high street, with many shops potentially facing permanent closure even as they prepare to reopen following a three-month lockdown. VideoHow bad information went viral in 2020, How a pariah and a Nobel laureate became friends, Seismic change: How Covid-19 altered world events in 2020, play2020 and me: 'I know the value of family more' Video2020 and me: 'I know the value of family more', How to build an igloo (when the climate is changing), The irrational reasons behind the biggest purchase of your life. Poundstretcher is shutting up shop in Merrielands Retail Park in Merrielands Crescent. Our. Download this stock image: £1 Pound Stretcher store, Closing down sale Every thing must go clearance in Hanley, Stoke-on-Trent, UK. Poundstretcher Wednesfield in Wolverhampton is open on Monday from 08:30 to 20:00. Turnover rose 12.2% to £434.6m while profits slumped from £2m to a £227,000 pre-tax loss in the year ended 31 March 2019. ... Poundstretcher in talks to close … Non-essential shops only reopened in England and Northern Ireland this week. 息 2020 BBC. Since 2018, the company had been opening new stores under the "Bargain Buys" banner, as well as converting a number of existing sites. Shopper spots embarrassing mistake on £1 Bargain Buys Christmas gift tags. A Poundstretcher store in Caerphilly could be replaced by a gym. The move puts more than 5,500 jobs at risk. What happens to your body in extreme heat? The rats will "eat anything", El Chapo insider gunned down as cartel assassins catch baby in deadly crossfire, Ignacio Paez Soto, 47, was killed as he left a convenience store on Boxing Day in Caborca, Mexico. It will be overseen by the accountancy firm KPMG. Business-Live revealed earlier this month that the company was on the look-out for potential landlords and agents to … Cath Kidston, Laura Ashley and the UK arm of Victoria's Secret have all called in administrators. Video, 2020 and me: 'I know the value of family more' Video, 2020 and me: 'I know the value of family more', What impact has Covid had on global climate? POUNDSTRETCHER could close 250 stores as part of restructuring plans putting 2,000 jobs at risk. explains more about how we use your data, and your rights. A further 23 stores could also shut as Poundstretcher plans to put a subsidiary group that owns them into administration before the deadline for voting on the plans. Sky News reports a restructuring plan is needed to rebuild the company during a … Covid-19: Concern at 'unprecedented' infection level in England, Loujain al-Hathloul: Saudi woman activist jailed for five years, Hilaria Baldwin denies faking her Spanish heritage, Coronavirus: Hundreds of British skiers flee Swiss Verbier quarantine, 'She is beautiful but she is Indian': The student who became a Welsh bard at 19, Atlantic discovery: 12 new species 'hiding in the deep', Rare white kiwi Manukura that inspired book and toys dies, Game of Thrones games maker dies 'after poisoning', Brexit: 'Bumpy' period expected as UK adjusts to new EU rules, Zhang Zhan: China jails citizen journalist for Wuhan reports, How coronavirus will change the way we all shop. Video, How bad information went viral in 2020. Doubts hang over Poundstretcher’s ability to continue as a going concern, the company has said in newly filed full-year accounts. 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 In its 2019 accounts, the company reported sales of £434 million, an increase of 12 per cent from 2018. - KJHT9W from Alamy's library of millions of high resolution stock photos, illustrations and vectors. The plan was to eventually convert all of their stores and try and attract a new customer base by aligning with "big shed" discount chains such as Home Bargains and B&M. The move puts more than 5,500 jobs at risk. 873 were here. Discount retailer Poundstretcher is closing a store in North Wales. .css-1xgx53b-Link{font-family:ReithSans,Helvetica,Arial,freesans,sans-serif;font-weight:700;-webkit-text-decoration:none;text-decoration:none;color:#FFFFFF;}.css-1xgx53b-Link:hover,.css-1xgx53b-Link:focus{-webkit-text-decoration:underline;text-decoration:underline;}Read about our approach to external linking. .css-orcmk8-HeadlineContainer{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:justify;-webkit-justify-content:space-between;-ms-flex-pack:justify;justify-content:space-between;}Covid-19: Concern at 'unprecedented' infection level in England.css-1dedj2h-Rank{-webkit-align-self:center;-ms-flex-item-align:center;align-self:center;color:#B80000;margin-left:3.125rem;}1, Loujain al-Hathloul: Saudi woman activist jailed for five years2, Hilaria Baldwin denies faking her Spanish heritage3, Coronavirus: Hundreds of British skiers flee Swiss Verbier quarantine4, 'She is beautiful but she is Indian': The student who became a Welsh bard at 195, Atlantic discovery: 12 new species 'hiding in the deep'6, Rare white kiwi Manukura that inspired book and toys dies7, Game of Thrones games maker dies 'after poisoning'8, Brexit: 'Bumpy' period expected as UK adjusts to new EU rules9, Zhang Zhan: China jails citizen journalist for Wuhan reports10. Sometimes they’ll include recommendations for other related newsletters or services we offer. Please note that the information for Poundstretcher In Wednesfield, Lichfield road Wednesfield Wolverhampton and all other Stores is for reference only. The CVA also proposes slashing rents for another 84 shops by up to 40% for a period of three years. You can unsubscribe at any time. Poundstretcher is considering closing up to a quarter of its stores following a review of its finances, according to reports. It is rumoured she helped introduce Meghan Markle to Prince Harry, Meghan Markle and Prince Harry 'set for Archewell live shows', documents reveal. Potential closures could impact more than half of its Stoke-on-Trent stores reopen on June 15th more than 5,500 at! Not responsible for the best stories straight to your inbox in Merrielands retail in! Plans to convert the store in Caerphilly could be launched as soon as Friday if Poundstretcher 's stores will.! 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