Poundland has received a big boost from its major move into the clothing sector and despite the problems at its South African parent company, its fourth quarter (the period to September 30) and full-year were strong.
Steinhoff's former CEO, Markus Jooste, told a parliamentary inquiry investigating an accounting scandal at the retailer that he was not aware of any accounting irregularities when he left the firm in December.
Steinhoff’s board will meet over the next two days to discuss asset sales to boost cash flow and pay down debt, its chairwoman said on Wednesday, months after creditors of the South African retailer threw it a lifeline.
The value brand said this has been the fastest rollout in retail history. The company wants to be one of the largest clothing retailers in the UK by sales volume and become a £100m annual turnover business.