As you know, if you are struggling with debts, then it’s a good idea to budget and try to make every pound go that little bit further. Part of this is shopping at places like Poundstretcher (and even if you’re not on a strict budget, everyone loves a bargain!). Now Channel 4 are screening a documentary that shows the difficulties in running one of Britain’s oldest discount stores in this age when big companies are going bust.
The program follows former Poundworld boss as he is brought back into the company to try to help save the struggling company. Unfortunately, this doesn’t quite go to plan…
Former owner, Chris Edwards, was brought in to boost sales by new owners, unfortunately, he only lasted 10 months in the role and blew over £1 MILLION in the process! Possibly as an explanation as to why the company was failing in the first place, and subsequently why it was sold on, Mr. Edwards overspent on the basics, and rehired his old staff, he spent thousands on stock for single stores in desperate attempt to make them profitable. When he was confronted with these facts, he threatened to quit, being completely unable to handle any form of criticism.
This just goes to show that a lot of people aren’t actually good with money and it takes real discipline to manage your money in a sensible way level – no matter how much you have!
Saving Poundstretcher is on Channel 4 on Mondays at 9pm.
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