Slaughter and May is advising the leading pan-European discount retailer Pepco Group N.V. (“Pepco” and, together with its subsidiaries, “Pepco Group”) on the restructuring of its former subsidiary, Poundland Limited ("Poundland"). Pepco sold Poundland to 1903 Peach Bidco Limited (“Peach Bidco”), a company established by certain affiliates of Gordon Brothers International LLC, on 12 June 2025 (the "Sale"). Slaughter and May worked closely with the Pepco Group legal team, led by Ned Staple.
The restructuring is being implemented by way of a restructuring plan under Part 26A of the Companies Act 2006 and was sanctioned by Norris J on 26 August 2025. Pursuant to the terms of the restructuring, the Pepco Group will provide Poundland with an up to £30 million overdraft facility and will receive a minority equity investment in Peach Bidco.
Prior to completion of the Sale, the Slaughter and May team worked alongside Teneo and the counsel team of Tom Smith KC, Georgina Peters and Madeleine Jones on the design and terms of the restructuring plan.
