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Poundstretcher Squeezed by Suppliers as Poundland Insolvency Looms

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EXCLUSIVE Consumer Poundstretcher Squeezed by Suppliers as Poundland Insolvency Looms Poundstretcher Ltd. is facing another financial headache just months after restructuring its debt as suppliers to the UK discount store demand better terms, rattled by the possible collapse of bigger rival Poundland Ltd. Vendors are requiring faster or immediate repayment from the Fortress Investment Group-backed company, according to people familiar with the matter. As a result, stores are not as...

EXCLUSIVE Consumer Poundstretcher Squeezed by Suppliers as Poundland Insolvency Looms Poundstretcher Ltd. is facing another financial headache just months after restructuring its debt as suppliers to the UK discount store demand better terms, rattled by the possible collapse of bigger rival Poundland Ltd. Vendors are requiring faster or immediate repayment from the Fortress Investment Group-backed company, according to people familiar with the matter. As a result, stores are not as well-stocked as they should be ahead of the crucial Christmas shopping season, they said, asking not to be identified discussing private information.
Poundstretcher Squeezed (PERSON) Suppliers as Poundland Insolvency Looms (ORG) Suppliers as Poundland Insolvency Looms Poundstretcher Ltd. (ORG) UK (LOCATION) Poundland Ltd. Vendors (ORG) the Fortress Investment Group (ORG)
Originally published by Bloomberg Markets Read original →