Poundstretcher suddenly closes UK store after 10 years

Poundstretcher has announced the closure of one of its stores after 10 years in the community. A sign was left on the store's door confirming its closure, stating that the business had been served a notice by the landlord.

The Newton branch in Powys, Wales, will permanently close on July 4th.

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The sign on the door reads: "Dear customers, unfortunately, this Poundstretcher site will be closing Saturday, July 4th, due to our landlord serving notice.

"We apologise and would like to take this opportunity to thank all our customers for your custom and support, it has been an absolute pleasure, and all the best in the future."

In 2024, US investment firm Fortress bought the chain, which operates almost 300 stores and employs an estimated 3,000 staff in the UK.

In March, the company said it would seek rent reductions from landlords as it tried to secure its long-term future, while insisting it was not planning widespread store closures or job losses.

At court hearings in May and June, lawyers had warned that the business would have “insufficient funds” to cover a £2.8 million funding requirement that is due in the week beginning June 28.

Earlier this month, a High Court judge gave the green light for a rescue plan for the retailer, following difficulties.

Following the judge’s ruling, chief executive Andy Atkinson said: “Today, our company is in a stronger position to continue investing in our stores, our people, and the overall customer experience.

"Our priority now is exactly what it has always been – ensuring our customers across the UK have access to great products at great value."