Fortress Investment Group is preparing a restructuring plan for Poundstretcher Ltd, just two years after acquiring the discount retailer, as the UK high street continues to face pressure from weak consumer demand and rising costs, according to a report by Bloomberg.
The proposed plan, which requires court approval, would cut rents by at least 25% on roughly 50 stores and eliminate rent entirely for another 50 underperforming locations. Landlords may receive equity participation in return for the...
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