Doncaster Poundstretcher closes down days after nearby Wilko shuts its doors

The store, on the Wheatley Retail Park, Wheatley Hall Road, is one of a number of Poundstretcher stores across the UK to close in recent weeks.

Last week, Wilko also closed its doors on the site, with the firm’s Frenchgate branch also due to disappear following the collapse of the High Street chain earlier this year.

Poundstretcher’s nearest branch is now in Harworth, according to the company’s website.

However, despite the Doncaster closure, Poundstretcher is in the middle of expanding its presence on the high street.

In February it revealed plans to open 50 new stores by the of the year.

The discount chain opened 30 locations in 2022 and has 350 shops nationwide.

In November 2022, Poundstretcher emerged from a two-year CVA (Compulsory Voluntary Arrangement)

A CVA is a way for a business to restructure and continue trading, but typically it closes some stores and negotiates rent costs down.

The chain brought in the legal arrangement back in July 2020 when it had close to 500 branches, to find a way of offloading high-rent stores and has now paid off around £13 million of what it owed.

Meanwhile, rival discount chain Wilko has sold some of its stores to Poundland and B&M in seperate deals while it has also been announced that Poundstretcher is looking at taking on some of the collapsed company’s stores.