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)
