13:48 27 July 2023
Shareholders of debt-troubled Pepco owner vote for the company’s dissolution
Shareholders of South African retailer Steinhoff International, which owns the Pepco discounters chain in Poland, have voted for the liquidation of the company. Steinhoff International has been struggling with debt for more than five years and in June failed to get shareholders’ approval of the proposed restructuring plan.
However, the bankruptcy should not have a direct impact on Pepco's operations, according to Conotoxia analyst Grzegorz Dróżdż cited by money.pl. “In the event of the dissolution of the parent company, the activities of the operationally independent companies usually remain unaffected,” he said.
