Poundstretcher on brink of administration

The proposed rescue plan involves asking landlords to accept significant rent cuts to stabilize the company's finances.

Lawyers for the group told the court that without the restructure, the business would likely have 'no choice' but to file for insolvency.

Poundstretcher, which was acquired by Fortress Investment Group in 2024, employs over 3,000 people whose jobs now hang in the balance.

The retailer's struggles reflect a broader downturn in the UK high street as rising operational costs and inflation hammer budget-friendly brands.