Ghost town
Shoppers in Ammanford, South Wales are calling the town a "ghost town" after bargain retailer Poundstretcher closed one of its stores. This comes just three years after the store opened.
Closing down sale
News of the closure spread after signs for a 20% closing down sale were spotted in the shop windows. The store confirmed the news on Facebook, urging customers to take advantage of the discounts before everything is gone.
Concerned residents
Local residents have expressed their concerns about the closure, with some mentioning the decline of the town and the impact on the workforce. Jonathan Edwards, MP for Carmarthen East and Dinefwr, also expressed his concern and offered his support to those affected.
Financial hardships
Poundstretcher has faced financial difficulties in recent years, leading to store closures and lower rent negotiations. In 2022, the retailer saw the closure of 500 stores, leaving only 350 still in operation. However, plans were announced earlier this year to open 50 new stores by 2023.
High street struggles
Poundstretcher is not the only high street retailer facing challenges. Many retailers are closing stores and cutting costs due to increased online shopping and rising energy costs. However, some retailers, such as B&M and Asda, are still opening new stores across the UK.
The future of Poundstretcher
It remains to be seen how Poundstretcher will navigate these challenges and whether it will be able to sustain its presence on the high street. Only time will tell.
