Fortress Plans to Restructure Discount Retailer Poundstretcher

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000A Poundstretcher Ltd. discount store in the UK.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 as much 25% on around 50 of its stores, while eliminating rent completely for another 50 locations that are currently unprofitable, according to a person familiar with the matter.