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Saving Poundstretcher shows former Poundlworld boss explode
THE former owner of Poundworld who was brought in to save Poundstretcher is filmed storming out of a meeting after being confronted for overspending.
Chris Edwards was hired in October to revive the flagging brand which suffered losses of £3.5m loss in 2017 following profits of £3.4m.
The 67-year-old sold his business for £150 million in 2015 and was hired by Poundstretcher owner Aziz Tayub to boost sales for struggling stores but was sacked after six months.
His time at Poundstretcher, when he was 10th CEO in a decade, was filmed in a Channel 4 documentary.
In one scene, Edwards is involved in a heated exchange with Tayub's son Fayaz, who is responsible for company costs.
He has spent £7,000 on a delivery of plastic poster covers from China.
But Fayaz said the product could have been ordered for around £2,000 cheaper from the company's usual local supplier.
He reacts badly, asking Fayaz why he didn't raise the cheaper products to him sooner.
“I don't need a lecture from you to say I've spent 20p on a piece of plastic, no listen to me, listen to me," he says.
"This can be a deal-breaker, I don't give a f***".
Trying to diffuse the situation, Fayaz says: “We can work together Chris, we can work together.”
Edwards, however, interrupts, saying: “We can work together but not on these terms. We're not going to work together. I'm not having it.”
He then storms out of the office and attempts to calm down in another room.
Over a third of Poundstretcher's stores are losing money and the company is facing cutting 6,000 jobs.
In an earlier episode, he branded the troubled chain a “crock of s***”.
Edwards also called one store “grotty and “atrocious” while reducing a female manager to tears in one scene.
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