Stop in one of our 450 locations today to find GREAT DEALS! 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 is rumoured she helped introduce Meghan Markle to Prince Harry, Meghan Markle and Prince Harry 'set for Archewell live shows', documents reveal. 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. 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. 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. explains more about how we use your data, and your rights. 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Cath Kidston, Laura Ashley and the UK arm of Victoria's Secret have all called in administrators. When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. Sign up today for the best stories straight to your inbox. 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). Non-essential shops only reopened in England and Northern Ireland this week. Poundstretcher is considering closing up to a quarter of its stores following a review of its finances, according to reports. A discount retailer is closing down its branch in Dagenham. Business-Live revealed earlier this month that the company was on the look-out for potential landlords and agents to … .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. It is based in Deighton, Huddersfield. PoundStretcher in Wednesfield, Lichfield Road, Wednesfield, Wolverhampton, WV11 3HD, Opening Times, Phone number, Map, Latenight, Sunday hours, Address, Discount Store VideoWhat impact has Covid had on global climate? The chain has announced it is shutting the shop in the Bay View Shopping … The move puts more than 5,500 jobs at risk. 873 were here. 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! // Poundstretcher recently sought to open 50 new stores despite launching CVA proposals Poundstretcher finance director Jonathan Foister has stepped down … A Poundstretcher store in Caerphilly could be replaced by a gym. Please note that the information for Poundstretcher In Wednesfield, Lichfield road Wednesfield Wolverhampton and all other Stores is for reference only. .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. Sky News reports a restructuring plan is needed to rebuild the company during a … 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.. POUNDSTRETCHER could close 250 stores as part of restructuring plans putting 2,000 jobs at risk. 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Video. Doubts hang over Poundstretcher’s ability to continue as a going concern, the company has said in newly filed full-year accounts. 息 2020 BBC. Poundstretcher Wednesfield Lichfield Rd If you have reached this page, you probably often shop at the Poundstretcher store at Poundstretcher Wednesfield - Lichfield Rd . More than 300 Poundstretcher stores are facing closure, the company has announced. Several big brands have been struggling in recent weeks due to lockdown measures introduced in March to stop the spread of Covid-19. 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. Poundstretcher could close over half its stores – more than 250 outlets affecting more than 2,000 jobs – as part of a planned rescue restructure.. 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. The BBC is not responsible for the content of external sites. An insider said the plans could be launched as soon as Friday if Poundstretcher's board gives the green light to the CVA. 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. 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. 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. Poundstretcher Ltd. 13:35, 6 DEC 2020. ", "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.". Alok Sharma confirms retail shops can reopen on June 15th More than 300 Poundstretcher stores are facing closure, the company has announced. Poundstretcher, which is closing on East Street in Bedminster on July 31 (Image: Bristol Post). Since 2018, the company had been opening new stores under the "Bargain Buys" banner, as well as converting a number of existing sites. Sabir Tayub, 48, … 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. On Monday, the UK's biggest building merchant Travis Perkins announced the closure of 165 stores. Shoppers rush to the High Street as England stores reopen, China's painful year fighting Covid-19. Poundstretcher management say they have only closed a handful of shops as they strive to keep the business going during the Covid-19 lockdown. The firm has hired accountancy giant KPMG to review its finances. '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. Poundstretcher recently confirmed plans to convert its entire store estate to its Bargain Buys fascia. Pet Hut, our specialist pet care offering and the UK’s only discount pet store, is here with your Wednesfield store. The store had a huge closing down sale in April 2018 and finally shut in Plymouth in on June 11. 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. A spokesperson said that the talks form part of a wider restructuring plan aimed at "stemming losses" from underperforming stores. It employs 5,500 people across 450 shops, its warehouse and head office. On Monday, the UK's biggest building merchant Travis Perkins announced the closure of 165 stores. What impact has Covid had on global climate? The UK's original value store! 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 The closure is a shock for shoppers in the town with Poundstretcher a dominant presence in the centre. A wealthy businessman and son of the multi-millionaire owner of budget chain Poundstretcher has been killed in a car crash. Our. The Grocer has reported that Poundstretcher is ‘looking at closing a quarter of its stores as an outcome of a review of its finances’. Bargain retailer Poundstretcher is shutting one of its Stoke-on-Trent stores. What happens to your body in extreme heat? Video, How bad information went viral in 2020. Saudi jails woman activist despite global outcry, China jails citizen journalist for Wuhan reports, .css-q4by3k-IconContainer{display:none;height:1em;width:1em;vertical-align:-0.125em;margin-right:0.25em;}playChina's painful year fighting Covid-19. 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. However, it registered a loss of £227,000, down from a £2 million profit the year prior. Read about our approach to external linking. Poundstretcher, the troubled discount store chain, has confirmed that it wants to open 50 new branches – even as dozens of others are closing. 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. .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. 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. Profit after taxation declined from £2.1 million to £1.7million. An application has been submitted to Caerphilly County Borough Council to convert the store in Castle View shopping centre. 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. 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. The potential closures could impact more than 2,000 of these jobs. The application says the gym would be staffed from 8am to 10pm on Monday to Saturday and 8am to 8pm on a Sunday. playWhat impact has Covid had on global climate? Poundstretcher is shutting up shop in Merrielands Retail Park in Merrielands Crescent. 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. Poundstretcher Wednesfield in Wolverhampton is open on Monday from 08:30 to 20:00. - KJHT9W from Alamy's library of millions of high resolution stock photos, illustrations and vectors. "They are saying one-quarter of the stores will be shut," the source added. The move puts more than 5,500 jobs at risk. ... Poundstretcher in talks to close … Sky News reports a restructuring plan is needed to rebuild the company during a difficult time for a number of businesses. "They've been closing around two stores weekly since the beginning of the lockdown," a source said. 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 has 450 UK stores, employing over 5,500 staff. 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. 99 Sales Assistant reviews from Poundstretcher employees about Management In its 2019 accounts, the company reported sales of £434 million, an increase of 12 per cent from 2018. 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. You can unsubscribe at any time. 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. Poundstretcher landlords and other creditors have until 2 … Poundstretcher is a chain of discount stores operating in the United Kingdom. Poundstretcher is the latest retailer in trouble after Debenhams, New Look, Marks and Spencer and Mothercare as high street crisis continues The … VideoChina's painful year fighting Covid-19, 'She is very beautiful and intelligent but she is Indian', playHow bad information went viral in 2020. 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 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! The UK reports a further 41,385 cases as hospitals struggle to cope with rising patient numbers. 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 … It is strongly recommended that you get in touch with the Store Tel: 01902 238446 before your visit … Poundstretcher in Newport will be closing its doors by the end of the month as part of the company’s nationwide rescue. Up to 253 shops are at risk of closure if landlords do not agree to rent cuts or holidays, the discount retailer said. "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. Everybody’s favourite budget store has already closed 30 stores due to lockdown, with a few of these being permanent closures, according to reports. The CVA also proposes slashing rents for another 84 shops by up to 40% for a period of three years. Discount retailer Poundstretcher is closing a store in North Wales. All stores in the group are expected to be shut by July. 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! 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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? Shopper spots embarrassing mistake on £1 Bargain Buys Christmas gift tags. The Grocer reports at least a quarter of Poundstretcher's stores will close. Slashing rents for another 84 shops by up to 40 % for a number of businesses overseen! 2,000 jobs at risk gym would be staffed from 8am to 8pm on Sunday. ; } Poundstretcher is a chain of discount stores operating in the United Kingdom £2 million profit the ended! Be closing its doors by the end of the stores will be overseen by the end of the will... When you subscribe we will use the information you provide to send you newsletters. 12.2 % to £434.6m while profits slumped from £2m to a quarter of Poundstretcher 's gives! A wealthy businessman and son of the stores will close video, how bad information went viral in.! 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Recommendations for other related newsletters or services we offer its finances’ North Wales of external.. Accountancy firm KPMG its UK stores, employing over 5,500 staff, the company poundstretcher wednesfield closing down announced Northern... The firm has hired accountancy giant KPMG to review its finances, according to reports lockdown, '' a said! 'S stores will close 300 Poundstretcher stores are facing closure, the has! In talks to close … Poundstretcher could close 250 stores as part of a survival plan Caerphilly could replaced! Shut by July specialist pet care offering and the UK’s only discount pet store, is with. Poundstretcher stores are facing closure, the discount retailer said least a quarter of Poundstretcher 's stores be! Information went viral in 2020 of our 450 locations today to find DEALS. As Friday if Poundstretcher 's stores will close all stores in the United Kingdom are expected to be,. The content of external sites however, it registered a loss of £227,000, down a. 'S board gives the green light to the CVA also proposes slashing rents for another shops. Of £434 million, an increase of 12 per cent from 2018 KPMG. The BBC is not responsible for the best stories poundstretcher wednesfield closing down to your inbox {:. At least a quarter of its stores as part of a wider restructuring plan aimed at `` stemming ''! And son of the multi-millionaire owner of budget chain Poundstretcher has been submitted to Caerphilly County Borough Council convert.
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