THE owners of Poundland have issued an update on the future of the troubled discount store.
Polish retail giant Pepco said it expects the sale of Poundland to complete by September.
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Bosses at the firm told investors the board “continues to actively explore separation options for Poundland business with an exit expected by end of FY25.”
This would be at the end of the group’s current finical year, which is due to close in September.
The brand also said it suffered “challenges across all categories” and had 18 net store closures over the period.
It comes after it was revealed that the store could be sold for just £1 after the Gordon Brothers emerged as the frontrunner for the stores.
It has also been speculated that up to 200 stores could close as part of its sale.
Poundland revenues dropped by 6.5% to 985 million euros (£830 million) for the six months to March, compared with a year earlier.
