Poundland takes £639million hit to value as profits crash and costs soar ...Middle East

The Sun - Sport
Poundland takes £639million hit to value as profits crash and costs soar
source : The Sun ( Middle East ) () 56
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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