Overview

• Pepco Group has confirmed Hilco and Gordon Brothers remain the only bidders as it targets a sale by the end of September.
• Poundland is set to close between 150 and 200 stores immediately under the restructuring plan and seek rent cuts on up to 500 additional locations.
• Incoming owners are expected to inject between £70m and £100m to support the chain’s turnaround strategy.
• Poundland’s half-year revenues fell 6.5% to £830.8m, triggering a downward revision of its full-year profit forecast.
• Managing director Barry Williams is steering a recovery plan that emphasizes the retailer’s traditional strengths alongside lease renegotiations.