Published by Global Banking & Finance Review®
Posted on December 10, 2024
1 min readLast updated: January 27, 2026
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Pepco Group's CEO is exploring strategic options for Poundland after a significant impairment charge, with more details expected on March 6.
LONDON (Reuters) - European discount retailer Pepco Group will examine "every strategic option" for its struggling Poundland business in the UK, the group's new CEO said on Tuesday.
"It is important to look at every strategic option for this company to bring it back on track," Stephan Borchert told Reuters after the group booked a 775 million euros ($816 million) non-cash impairment charge for Poundland because of its weak performance and outlook.
Asked if Poundland would stay in the group, Borchert said he would say more on the group's whole strategy and on Poundland when he hosts a Capital Markets Day on March 6.
($1 = 0.9499 euros)
(Reporting by James Davey; Editing by Sachin Ravikumar)
The main topic is Pepco Group exploring strategic options for its UK Poundland business due to financial challenges.
Pepco booked a 775 million euros non-cash impairment charge for Poundland.
More details on the strategy will be available on March 6 during the Capital Markets Day.
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