Poundstretcher’s chief executive Derek Lawlor has left the business following a difference in opinion over where the company should be headed.
Lawlor joined the discount retailer in the summer of 2022 after seven years in senior roles at the Asda supermarket chain.
In an interview with BusinessLive, Poundstretcher owner Aziz Tayub said he was hoping to float the business this year or next if economic conditions stabilise, and estimated that the retailer will be valued at between £250 million and £300 million.
Tayub is currently looking to make some small additions to its management team, including a new chairman, but is still planning to be part of the business for “a few more years at least”.
Poundstretcher is now debt free following its CVA last October.
