Poundstretcher is a discount retailer with over 300 stores across the UK
Poundstretcher has saved itself from administration just weeks after announcing it ‘may have no choice’.
The discount high street chain has put together a restructuring plan approved by the High Court.
The Mirror reports the popular retailer has over 300 stores across the UK and is not planning to close stores or make any redundancies as part of its restructure. This comes among a wave of administration woes hitting other iconic businesses such as Claire’s and The Original Factory Shop.
Poundstretcher employs around 3,000 staff in the UK and was bought by a US investment firm, Fortress, in 2024. Fortress also owns Majestic Wine which has around 200 stores across the UK.
The High Court agreed the discount retailer’s plans to focus on reducing property costs by seeking rent reductions with landlords in order to get the business financially stable.
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.”
Poundstretcher first opened in 1981 and expanded across the UK in the 1980s, 1990s and 2000s. In 2018, bosses at the chain featured on a Channel 4 documentary, Saving Poundstretcher, following the business owners’ attempts to revitalise the chain.
A number of UK High Street chains have faced financial difficulties this year. Southern Co-op avoided potential administration by transferring branches to the national Co-operative group in April 2026.
Elsewhere on the High Street TG Jones, formerly WH Smiths, has warned that it may need to enter administration later in the summer if its plans to close 150 stores are not approved by creditors.
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