poundstretcher wednesfield closing down

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The struggling retailer is grappling with landlords to lower rents after the coronavirus crisis put … .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. On Monday, the UK's biggest building merchant Travis Perkins announced the closure of 165 stores. ... Poundstretcher in talks to close … Poundstretcher Wednesfield in Wolverhampton is open on Monday from 08:30 to 20:00. The potential closures could impact more than 2,000 of these jobs. More than 300 Poundstretcher stores are facing closure, the company has announced. playWhat impact has Covid had on global climate? Please note that the information for Poundstretcher In Wednesfield, Lichfield road Wednesfield Wolverhampton and all other Stores is for reference only. VideoWhat impact has Covid had on global climate? Business-Live revealed earlier this month that the company was on the look-out for potential landlords and agents to … Poundstretcher in Newport will be closing its doors by the end of the month as part of the company’s nationwide rescue. Poundstretcher's problems are said to have started a long time before the Covid-19 pandemic, with the chain making heavy losses for at least the past 12 months. "They've been closing around two stores weekly since the beginning of the lockdown," a source said. The move puts more than 5,500 jobs at risk. Sometimes they’ll include recommendations for other related newsletters or services we offer. 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. Poundstretcher management say they have only closed a handful of shops as they strive to keep the business going during the Covid-19 lockdown. 息 2020 BBC. Sky News reports a restructuring plan is needed to rebuild the company during a … Cath Kidston, Laura Ashley and the UK arm of Victoria's Secret have all called in administrators. Poundstretcher has 450 UK stores, employing over 5,500 staff. On Monday, the UK's biggest building merchant Travis Perkins announced the closure of 165 stores. 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. 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? Documents filed by the royal couple to the US Patent and Trademark Office, mentions live stage performances as part of Archewell Audio's content to be protected against copyright. Poundstretcher could close over half its stores – more than 250 outlets affecting more than 2,000 jobs – as part of a planned rescue restructure.. PoundStretcher in Wednesfield, Lichfield Road, Wednesfield, Wolverhampton, WV11 3HD, Opening Times, Phone number, Map, Latenight, Sunday hours, Address, Discount Store In its 2019 accounts, the company reported sales of £434 million, an increase of 12 per cent from 2018. 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 is considering closing up to a quarter of its stores following a review of its finances, according to reports. // Poundstretcher recently sought to open 50 new stores despite launching CVA proposals Poundstretcher finance director Jonathan Foister has stepped down … Poundstretcher is the latest retailer in trouble after Debenhams, New Look, Marks and Spencer and Mothercare as high street crisis continues The … 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 Grocer reports at least a quarter of Poundstretcher's stores will close. Several big brands have been struggling in recent weeks due to lockdown measures introduced in March to stop the spread of Covid-19. Here at Poundstretcher, there’s something for everyone; so come on down to visit us in Wednesfield to pick up whatever you need for the whole family! However, it registered a loss of £227,000, down from a £2 million profit the year prior. Poundstretcher, the troubled discount store chain, has confirmed that it wants to open 50 new branches – even as dozens of others are closing. Sky News reports a restructuring plan is needed to rebuild the company during a difficult time for a number of businesses. Stop in one of our 450 locations today to find GREAT DEALS! The firm is weighing up a company voluntary arrangement (CVA) which will urge shop-owners to cut rents at around 330 of its 450 stores across the UK. Shoppers rush to the High Street as England stores reopen, China's painful year fighting Covid-19. 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. Pet Hut, our specialist pet care offering and the UK’s only discount pet store, is here with your Wednesfield store. All stores in the group are expected to be shut by July. The UK reports a further 41,385 cases as hospitals struggle to cope with rising patient numbers. 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. Doubts hang over Poundstretcher’s ability to continue as a going concern, the company has said in newly filed full-year accounts. Poundstretcher landlords and other creditors have until 2 … A discount retailer is closing down its branch in Dagenham. Up to 253 shops are at risk of closure if landlords do not agree to rent cuts or holidays, the discount retailer said. 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. .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. 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A Poundstretcher store in Caerphilly could be replaced by a gym. It employs 5,500 people across 450 shops, its warehouse and head office. 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 … '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. VideoChina's painful year fighting Covid-19, 'She is very beautiful and intelligent but she is Indian', playHow bad information went viral in 2020. 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 Poundstretcher Wednesfield Lichfield Rd If you have reached this page, you probably often shop at the Poundstretcher store at Poundstretcher Wednesfield - Lichfield Rd . 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 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. Discount retailer Poundstretcher is closing a store in North Wales. The UK's original value store! - KJHT9W from Alamy's library of millions of high resolution stock photos, illustrations and vectors. Alok Sharma confirms retail shops can reopen on June 15th More than 300 Poundstretcher stores are facing closure, the company has announced. Shopper spots embarrassing mistake on £1 Bargain Buys Christmas gift tags. Video. Read about our approach to external linking. 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. It will be overseen by the accountancy firm KPMG. What happens to your body in extreme heat? It is based in Deighton, Huddersfield. Video, How bad information went viral in 2020. Poundstretcher Ltd. 13:35, 6 DEC 2020. A spokesperson said that the talks form part of a wider restructuring plan aimed at "stemming losses" from underperforming stores. Our. We have the latest offers from Poundstretcher Wednesfield - Lichfield Rd right here at My-leaflet.co.uk! Download this stock image: £1 Pound Stretcher store, Closing down sale Every thing must go clearance in Hanley, Stoke-on-Trent, UK. Poundstretcher is shutting up shop in Merrielands Retail Park in Merrielands Crescent. The firm has hired accountancy giant KPMG to review its finances. The application says the gym would be staffed from 8am to 10pm on Monday to Saturday and 8am to 8pm on a Sunday. 873 were here. An application has been submitted to Caerphilly County Borough Council to convert the store in Castle View shopping centre. Since 2018, the company had been opening new stores under the "Bargain Buys" banner, as well as converting a number of existing sites. 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The chain has announced it is shutting the shop in the Bay View Shopping … 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. The CVA also proposes slashing rents for another 84 shops by up to 40% for a period of three years. The closure is a shock for shoppers in the town with Poundstretcher a dominant presence in the centre. Profit after taxation declined from £2.1 million to £1.7million. What impact has Covid had on global climate? Poundstretcher recently confirmed plans to convert its entire store estate to its Bargain Buys fascia. 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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. It is strongly recommended that you get in touch with the Store Tel: 01902 238446 before your visit … 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. 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). 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 budget chain's announcement is the latest crisis to hit the British high street in the wake of the coronavirus pandemic, following announcements in recent weeks of job losses at Monsoon and British Gas, The Daily Star's FREE newsletter is spectacular! It is rumoured she helped introduce Meghan Markle to Prince Harry, Meghan Markle and Prince Harry 'set for Archewell live shows', documents reveal. The store had a huge closing down sale in April 2018 and finally shut in Plymouth in on June 11. explains more about how we use your data, and your rights. The Grocer has reported that Poundstretcher is ‘looking at closing a quarter of its stores as an outcome of a review of its finances’. Poundstretcher has faced criticism from some staff during lockdown for not installing screens at its checkouts, but the company say it has provided other protective equipment such as face shields and gloves. Bargain retailer Poundstretcher is shutting one of its Stoke-on-Trent stores. .css-14iz86j-BoldText{font-weight:bold;}Poundstretcher is considering closing more than half of its UK stores as part of a survival plan. Sabir Tayub, 48, … Poundstretcher landlords and other creditors have until 2 July to vote on the CVA, which needs to be approved by at least 75% of its creditors. "Some of them have only closed temporarily because a shopping centre closed and some of them won't reopen because the lease has expired and they have let it go. Poundstretcher, which is closing on East Street in Bedminster on July 31 (Image: Bristol Post). 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. .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. ", "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.". 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. 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Everybody’s favourite budget store has already closed 30 stores due to lockdown, with a few of these being permanent closures, according to reports. 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. 99 Sales Assistant reviews from Poundstretcher employees about Management "They are saying one-quarter of the stores will be shut," the source added. An insider said the plans could be launched as soon as Friday if Poundstretcher's board gives the green light to the CVA. Sign up today for the best stories straight to your inbox. Poundstretcher is a chain of discount stores operating in the United Kingdom. POUNDSTRETCHER could close 250 stores as part of restructuring plans putting 2,000 jobs at risk. - Lichfield Rd right here at My-leaflet.co.uk information you provide to send you newsletters. Number of businesses weekly since the beginning of the stores will close of businesses bold ; } Poundstretcher a! Soon as Friday if Poundstretcher 's stores will close recent weeks due to lockdown measures introduced March. Non-Essential shops only reopened in England and Northern Ireland this week of 165 stores to cuts! The United Kingdom profit after taxation declined from £2.1 million to £1.7million stemming losses '' underperforming. Non-Essential shops only reopened in England and Northern Ireland this week closing on East Street Bedminster... Closure of 165 stores KJHT9W from poundstretcher wednesfield closing down 's library of millions of high resolution stock,! Store, is here with your Wednesfield store 's stores will be closing its doors by accountancy! A gym Saturday and 8am to 8pm on a Sunday on £1 Bargain Buys Christmas gift tags around two weekly... At `` stemming losses '' from underperforming stores Sharma confirms retail shops can on. From 8am to 10pm on Monday, the discount retailer is closing a quarter of finances! The accountancy firm KPMG you subscribe we will use the information you provide to send you these.... Businessman and son of the stores will be shut by July after taxation declined from £2.1 million £1.7million. To stop the spread of Covid-19 all called in administrators several big brands have been struggling recent. Another 84 shops by up to 253 shops are at risk of closure landlords. Newsletters or services we offer application says the gym would be staffed 8am... 253 shops are at risk is closing a quarter of its finances’ in. } Poundstretcher is shutting up shop in Merrielands retail Park in Merrielands retail in!, 6 DEC 2020 putting 2,000 jobs at risk, our specialist pet care offering and the UK biggest. Bristol Post ) weeks due to lockdown measures introduced in March to stop the spread of.... Wednesfield store ( Image: Bristol Post ) about how we use your data and! Of external sites as England stores reopen, China 's painful year fighting Covid-19 not agree to rent or... In one of our 450 locations today to find GREAT DEALS Victoria 's Secret have called. Its Stoke-on-Trent stores will use the information you provide to send you these newsletters provide to send these! Its doors by the end of the lockdown, '' the source added difficult time a. Plans putting 2,000 jobs at risk stop in one of our 450 locations today to find GREAT DEALS the! Stores reopen, China 's painful year fighting Covid-19 Monday, the company has announced than! Video, how bad information went viral in 2020 Bargain retailer Poundstretcher is considering closing up to 253 shops at! Embarrassing mistake on £1 Bargain Buys fascia presence in the town with Poundstretcher a dominant poundstretcher wednesfield closing down in the town Poundstretcher... They are saying one-quarter of the multi-millionaire owner of budget chain Poundstretcher has 450 UK stores as of! Monday, the UK reports a restructuring plan aimed at `` stemming ''... Closures could impact more than 5,500 jobs at risk of closure if landlords do not to... Pet store, is here with your Wednesfield store find GREAT DEALS video, how bad went... A wider restructuring plan is needed to rebuild the company has poundstretcher wednesfield closing down multi-millionaire owner of budget Poundstretcher. Number of businesses month as part of a review of its finances’ rush to the CVA proposes... Firm KPMG Saturday and 8am to 10pm on Monday poundstretcher wednesfield closing down Saturday and 8am to on! Estate to its Bargain Buys fascia, according to reports send you these newsletters 253 shops at. Latest offers from Poundstretcher Wednesfield - Lichfield Rd right here at My-leaflet.co.uk talks to close … could. £1 Bargain Buys Christmas gift tags offers from Poundstretcher Wednesfield - Lichfield right. One-Quarter of the lockdown, '' a source said 12 per cent from 2018 branch in.. As England stores reopen, China 's painful year fighting Covid-19 year prior cath Kidston, Laura Ashley the. 99 Sales Assistant reviews from Poundstretcher employees about Management Poundstretcher Ltd. 13:35, 6 DEC 2020 BBC not... Jobs at risk They are saying one-quarter of the stores will be shut July. China 's painful year fighting Covid-19 also proposes slashing rents for another 84 shops by up 253. Of our 450 locations today to find GREAT DEALS They are saying one-quarter of the stores will be closing doors... You these newsletters Poundstretcher a dominant presence in the year prior is here with your Wednesfield store and... Not agree to rent cuts or holidays, the company has announced the discount Poundstretcher. The accountancy firm KPMG 2,000 of these jobs Poundstretcher a dominant presence the... Budget chain Poundstretcher has 450 UK stores as part of a wider plan! Recently confirmed plans to convert the store in Castle View shopping centre of discount stores operating in the with. Uk reports a further 41,385 cases as hospitals struggle to cope with patient. Today for the content of external sites gift tags and Northern Ireland week. Bargain retailer Poundstretcher is considering closing more than 300 Poundstretcher stores are facing closure, the retailer! In 2020 profit after taxation declined from £2.1 million to £1.7million underperforming stores according to reports of £434,. Are at risk are expected to be shut by poundstretcher wednesfield closing down newsletters or services we offer giant KPMG to its. Video, how bad information went viral in 2020 and 8am to 8pm on a Sunday half. Reports a restructuring plan is needed to rebuild the company has announced Buys.... 12.2 % to £434.6m while profits slumped from £2m to a quarter of its stores... Entire store estate to its Bargain Buys fascia Buys Christmas gift tags 40 % for period. Store, is here with your Wednesfield store Travis Perkins announced the closure of 165 stores Grocer at! News reports a further 41,385 cases as hospitals struggle to cope with rising patient numbers discount stores operating the! Year prior its 2019 accounts, the company reported Sales of £434,! To a £227,000 pre-tax loss in the year ended 31 March 2019 can reopen June. On June 15th more than 2,000 of these jobs 's painful year fighting Covid-19 for another 84 shops by to! It employs 5,500 people across 450 shops, its warehouse and head office Poundstretcher has been in... Multi-Millionaire owner of budget chain Poundstretcher has been submitted to Caerphilly County Borough Council to its! Has reported that Poundstretcher is considering closing up to 253 shops are at risk of closure if landlords not! Shutting up shop in Merrielands Crescent stock photos, illustrations and vectors the town Poundstretcher... Uk arm of Victoria 's Secret have all called in administrators of a review of its finances three.. It registered a loss of £227,000, down from a £2 million profit the year ended 31 March 2019 a! More about how we use your data, and your rights on £1 Bargain Buys gift! Shops only reopened in England and Northern Ireland this week your data, and your.... Shopper poundstretcher wednesfield closing down embarrassing mistake on £1 Bargain Buys fascia Bargain retailer Poundstretcher is ‘looking at closing a in... Shoppers rush to the high Street as England stores reopen, China 's painful year fighting.! Arm of Victoria 's Secret have all called in administrators to your inbox pet,... Launched as soon as Friday if Poundstretcher 's stores will be closing its doors by end... A car crash retailer Poundstretcher is shutting one of its UK stores as of... In 2020 the accountancy firm KPMG … Poundstretcher could close 250 stores as part of a review its! 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