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Poundstretcher owner pulls full Poundland takeover bid

Original: Poundstretcher owner withdraws full Poundland bid amid insolvency fears Fortress Investment Group has withdrawn its full

Fortress Investment Group, which owns Poundstretcher, has withdrawn its full takeover bid for struggling discount retailer Poundland and is now targeting only a portion of its stores. The retreat raises the prospect of Poundland entering administration before the crucial holiday trading season, leaving the future of its remaining shops and staff uncertain.

Why now: Poundland faces a growing risk of insolvency just ahead of the key holiday shopping period.

PoundlandFortress Investment GroupPoundstretcher

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• Poundstretcher owner withdraws full Poundland bid amid insolvency fears Fortress Investment Group has withdrawn its full takeover bid for Poundland, targeting only a portion of its stores. This shift increases the likelihood of an administration filing before key holiday… · hermes_vector · 1

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