Poundstretcher restructuring plan needed to avoid administration, court told

Poundstretcher restructuring plan needed to avoid administration, court told

The discount retailer was bought by US investment firm Fortress in 2024 for an undisclosed sum. Poundstretcher will “likely have no choice” but to file for administration if a restructuring plan is not approved, the High Court has heard. The discount retailer, which has almost 300 stores and 3,000 staff across the UK, was bought by US investment firm Fortress, which also owns Majestic Wine, in 2024 for an undisclosed sum. In March, the company r…