POUNDSTRETCHER could close more than 250 shops putting 2,000 jobs at risk.

The discount store chain is asking landlords and other creditors to back a creditors voluntary arrangement (CVA) which would see it slash rents on 84 stores by more than 30 per cent.

The retailer said it could close 253 stores if an agreement to rent cuts or holidays isn’t met.

Poundstretcher has stores in Bitterne, Totton, Eastleigh, Fareham, Gosport and New Milton.

It employs 5,500 people across 450 shops, its warehouse and head office.

Poundstretcher also owns the Bargain Buys chain.