Pepco, the owner of Poundland, is looking to sell the discount supermarket chain due to challenging trading conditions and declining sales. With potential store closures putting thousands of jobs at risk, the company may sell Poundland for as low as £1. There is interest from various investment firms to purchase the chain, but a significant restructuring may be necessary, including the closure of up to 200 stores. The CEO emphasized the need for a recovery plan, particularly as recent sales figures have fallen below expectations.
"At Poundland, trading remains challenging, which is reflected in a profit outturn below expectations for H1 and a weaker outlook for the full year."
"Thousands of jobs could be at risk as hundreds of Poundland stores could close, which comes as the Chancellor's Budget has added 'further pressure' for company."
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