Industry website The Grocer have reported that discount retailer Poundstretcher are set to close a quarter of its stores after a bleak review of its finances.
Poundstretcher have four stores in Edinburgh and the Lothians. In April, they advertised new job roles in the capital.
30 of the chain's shops had already closed during lockdown, in some cases permanently. The rest of the shops were able to remain open as an essential retailer as they also sold food and household goods.
Poundstretcher is understood to be looking at closing a quarter of its stores as an outcome of a review of its finances.
A source told The Grocer: “They’ve been closing around two stores weekly since of the beginning of lockdown."
“Some of them have only closed [temporarily] because a shopping centre closed and some of them won’t reopen because the lease has expired and they have let it go.
“They are saying one quarter of the stores will be shut,” the source added.
Poundstretcher did not respond to a request from The Grocer for comment.
The firm has faced criticism from staff during lockdown for not installing screens at checkouts, although it has provided other protective equipment such as face shields and gloves.
