European discount retailer Pepco Group will not receive major proceeds from any buyer of its struggling Poundland chain in Britain, its boss said today.
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.
