Poundstretcher owner drops Poundland takeover bid, raising administration risk
Fortress Investment Group, the private equity firm that owns Poundstretcher, has withdrawn its takeover bid for rival Poundland, fuelling fears of an imminent insolvency filing at the discounter, Sky News reported.
Fortress has submitted a revised offer that would take on fewer than half of Poundland’s roughly 530 UK stores rather than buy the whole chain.
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