// Poundstretcher cuts store estate by 75 stores since CVA plans
// The discount retailer had 437 stores in July last year and 362 this month
Poundstretcher has reportedly cut down its store estate by 75 stores since launching a CVA last year.
The discount retailer had 437 stores in July last year and 362 this month, The Grocer reported.
The numbers include stores trading under its ‘Bargain Buys’ banner.
READ MORE: Poundstretcher finance boss exits after three months
They dropped from 79 to 61 stores, while branches under the Poundstretcher banner fell from 358 to 301.
The net decline comes despite Poundstretcher also opening stores, meaning the number to have closed will be higher.
The CVA, launched in June last year, put more than half of Poundstretcher’s estate at risk of closure dependent on performance and landlord co-operation.
However, Poundstretcher and its restructuring partner KPMG confirmed plans in October to offset the closures with 50 new openings.
Recent new locations for Poundstretcher include a 10,000sq ft former Poundland store in Northampton.
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2 Comments. Leave new
The new one just opened in Northampton looks ok , but FMCG is priced at the higher end compared to B&M, Poundland & Home Bargains I was taken back a bit for this , from having not been into one in recent years , I would also say as a seller of the hotel pillows priced at £9.99 is way off I retail them at £5 and at very best that’s the true retail so not sure why they are not at best matching the market trader on price – just saying , welcome feedback…
The Portsmouth Bargain Buys prices have rocketed in the past year. I go about once a month, but never buy. I used to buy a few items on every visit. The store is well stocked and well presented, however, usually just a couple of customers.