Pepco won't get 'major proceeds' from Poundland sale, says CEO
22/05/2025 08:29
LONDON, May 22 (Reuters) - European discount retailer Pepco Group PCOP.WA will not receive major proceeds from any buyer of its struggling Poundland chain in Britain, its boss said on Thursday. The Warsaw-listed group, which also owns the Pepco and Dealz brands, is exploring options for the separation of the 818-store Poundland business, with an exit expected by September. It has attracted interest from potential buyers. The group has warned that Poundland might not make a profit in its 2024/25 financial year. "It's clear, given the current situation Poundland is in, that major proceeds can't be expected," Pepco Group CEO Stephan Borchert told Reuters. (Reporting by James Davey, Editing by Paul Sandle) ((james.davey@thomsonreuters.com))
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