Poundstretcher FD steps down after just three months

Leicestershire-headquartered value retailer Poundstretcher is searching for its third finance boss of the year after its latest FD left the role after just three months.

Jonathan Foister stepped down from the company on October 23, according to documents filed at Companies House, after replacing Hemant Patel in July.

The news comes after Poundstretcher revealed it was set to open 50 new stores – despite closing dozens of others.

Reports from Business-Live last month said the firm will open the stores next year and is currently searching for landlords and agents to help realise its ambitions.

Poundstrectcher is reported to be working with KPMG, which is processing a company voluntary agreement (CVA) for the firm, on the plans which included offering a £500 pay-out for successful tips on potential sites.

The move comes despite Poundstretcher turning to a CVA to offload scores of underperforming stores.