Poundstretcher closes down in Fareham - but new shop is set to replace it

However it’s not all bad news for savvy shoppers as a new supermarket is due to take its place.

Poundstretcher, in Collingwood Retail Park, Newgate Lane, Fareham, closed earlier this month.

The chain is undergoing a store closure programme as part of a company voluntary arrangement (CVA) to offload underperforming outlets.

So far about 50 stores have closed, with speculation that up to 450 stores could go.

The unit it formerly occupied at Collingwood Retail Park has already been snapped up by Farm Foods, a supermarket that specialises in frozen food.

Farmfoods, a Scottish family business, has more than 300 stores and four distribution centres nationwide.

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The chain has been operating for more than 60 years and already has a store in Fratton Road, Fratton, Portsmouth and Greywell Shopping Centre, in Leigh Park, Havant.

Neil Jenkins, from the firm, said: ‘I can confirm that our new Fareham shop will open on Friday, October 23 at 8am.’

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