Poundstretcher shuts another store in fresh wave of closures – is yours on the list?

POUNDSTRETCHER have announced another of their stores is closing down, just two years after it opened.

The store in Ammanford, Wales, will join the long list of stores Poundstretcher are shutting across the UK.

Signs have appeared outside the store's windows offering 20 per cent off everything left in there.

It is devastating for the staff, especially in the run-up to Christmas.

The closure of the shop will have a big impact on the Welsh town.

Opened in 2021, Poundstretcher employed both full and part-time workers and donated £250 worth of vouchers to Ammanford Foodbank.

Numerous retail giants have recently had to shut a number of their stores.

Wilko has been the most noticeable in recent weeks when they shut all 400 of their stores last month.

Over the last couple of years, the huge bargain chain has been shutting multiple stores across the UK.

Despite this Poundstretcher said back in February that they were hoping to open 50 new shops by the end of the year.

The retail company had financial difficulties noticeably in March 2022 when 17 stores were shut and over 1,000 retail staff were cut.

It was around this time Poundstretcher's profits had halved - yet, the company was still pushing for an aggressive expansion.

In July 2020 the store entered a legal arrangement which allowed the business to restructure and continue trading.

At the time, it closed 500 branches and paid around £13million of what it owed.