Business & Finance
Poundstretcher Squeezed by Suppliers as Poundland Insolvency Looms
Key Points
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.