Fortress Plans to Restructure UK Retailer Poundstretcher

Fortress Investment Group plans to restructure Poundstretcher Ltd. just two years after acquiring the struggling discount retailer, the latest sign of deepening strain across the UK high street.

The plan — which requires court approval — would involve reducing Poundstretcher’s rent by at least 25% on around 50 of its stores, while eliminating rent completely for about 50 other locations that are currently unprofitable, according to a person familiar with the matter.