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This is disappointing news, though not entirely surprising given the short tenure of previous Poundstretcher CEOs.

The frustrating thing is that what your source says was Kirk's focus - namely to "compete against rival value chains B&M Bargains and Family Bargains by modernising stores, reviewing the supply chain and looking to professionalise the business" - is *exactly* what Poundstretcher needs. The chain's product is surprisingly good, but is undermined by the business's other features: tatty stores, shopfloors cluttered with stock, and a relatively weak and inconsistent brand, all of which really need to be addressed.

"Operating the business as usual" may be enough to generate a marginal profit, but some external input - for more than a few months - is needed if Poundstretcher is to achieve its potential and give better-organised competitors a run for their money.