Poundstretcher has been bought by the US investment firm Fortress, the owner of the Majestic Wine off-licence and Punch pubs group, for an undisclosed sum.
The deal for the UK discount retail chain, which includes its 322 shops, of which about 60 trade under the name Bargain Buys, is the latest twist in the history of one of Britain’s first discounters, which has undergone a number of rescue deals.
