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Poundland takes £639million hit to value as profits crash and costs soar ...Middle East
POUNDLAND is facing an uncertain future as tumbling profits have prompted its owner to admit it was considering what to do with it. Polish owner Pepco has taken a £639million writedown on the value of the discount retailer, which has 836 shops in the UK. It comes amid weak profits and rising costs. Stephan Borchert, chief executive, yesterday said: “It is important to look at every option to bring it back on track.” His comments have raised speculation that Poundland could be ditched by its Eastern European-focused parent and put up for sale.
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