February 5, 2020 / 10:17 AM / 2 months ago

Boss of Poundland-owner Pepco says "almost inevitable" Steinhoff will sell group

LONDON, Feb 5 (Reuters) - The boss of Pepco Group, which runs British discount retailer Poundland, said it is highly likely the group will be sold by its parent, the troubled South African group Steinhoff.

“The restructuring arrangement that Steinhoff has with its creditors means it’s almost inevitable that we’ll be sold,” Chief Executive Andy Bond told Reuters on Wednesday after the group updated on Christmas trading.

He said he was “genuinely open minded” on the disposal options - private equity sale, initial public offering, or trade sale. (Reporting by James Davey, Editing by Paul Sandle)

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