Poundstretcher has become the latest chain facing problems as even the discount retailers are hit by rising inflation and declining consumer spending. Poundstretcher has recruited former Costcutter executive Bob Marshall as its new finance director following the departure of Roy Ellis. July 6 update: Poundstretchers has had its CVA proposal approved. ... Poundstretcher could become the latest … The news comes as Poundstretcher creditors green light the retailer’s CVA proposal to help it offload underperforming outlets, realign its head office and pave the way for investment in its estate. They saw a £3.4million profit turn into a massive £3.5million loss in 2017, signalling troubling times. All the latest breaking news, headlines, analysis and articles on Poundstretcher from the Evening Standard Coronavirus: Poundstretcher shops face closure as CVA looms. As Poundstretcher becomes the latest store closure, what next for Bury's 'premiere' Mill Gate… Manchester Evening News 16:27 21-Nov-20 'Bullies' confronted sex assault victim outside this Swindon Poundstretcher Swindon Advertiser 06:04 19-Nov-20 News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. The high street discounter is drawing up plans for a CVA that could be launched within days, Sky News learns. Never miss a beat, sign up to your newsletter "Poundstretcher is one of the biggest retail outlets on Goole so this represents another nail in the coffin for shopping in the town." 2015-04-22T11:29:00Z. News Tesco-backed checkout-free tech firm Trigo secures $60m funding. Poundstretcher bosses have been slammed for sending staff 'Blue Peter’ style instructions to build protective kit. The latest funding, led by venture capital firm 83North, would be used to scale Trigo’s ability to meet growing demand and boost R&D, the checkout-free tech company said More than 90 per cent of creditors voted to approved the CVA plans, including the majority of landlord, surpassing the 75 per cent total required in order to pass the resolution. Latest marketing and advertising news for Poundstretcher, including insights and opinions. 2020-12-21T13:00:00Z. Crown Crest is used as the counterparty by many of Poundstretcher’s suppliers because it has a stronger balance sheet than the on-street retailer. The CVA put more than half of Poundstretcher's 450-store estate at risk as it seeks rent reductions. News Poundstretcher picks ex-Costcutter man Marshall as new finance boss. Poundstretcher has become the latest chain to face problems as the discount retailers are hit by rising inflation and declining consumer spending. 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