Poundstretcher, a discount retailer in the UK, is at risk of entering administration if its proposed restructuring plan does not receive approval. The company, which operates nearly 300 stores and employs 3,000 staff, has been struggling due to various factors, including declining customer confidence and rising operational costs. During a recent High Court hearing, it was revealed that Poundstretcher needs to secure £2.8 million by the week of June 28, which could escalate to £9.7 million by the end of July. The company's legal representatives stated that without the restructuring plan's approval, they would likely have no option but to file for administration. The proposed plan includes negotiating rent reductions with landlords and shifting the product mix to include more recognizable household brands. The court is expected to hold creditor meetings on May 26, with a follow-up sanction hearing scheduled for June 4. A spokesperson for Poundstretcher emphasized that there are no plans for store closures or redundancies as they continue to serve customers throughout this process.