LONDON, May 22 (Reuters) - European discounter Pepco Group PCOP.WA is still exploring options for the separation of its struggling Poundland business in Britain, with an exit expected by September, it said on Thursday.
The Warsaw-listed group, which also owns the Pepco and Dealz brands, said in March it had received interest from potential buyers for the 825-store Poundland.
U.S.-based investor Gordon Brothers has emerged as the frontrunner of a clutch of potential suitors, The Sunday Times reported on May 17.
Gordon Brothers did not respond to a request for comment.
Pepco Group said Poundland continued to see challenging trading conditions in the first half to March 31 period, with revenue down 6.5%.
The group cut its full-year outlook for Poundland again, forecasting underlying EBITDA of zero to 20 million euros ($22.7 million), versus previous guidance of 50 million to 70 million euros.
($1 = 0.8825 euros)
(Reporting by James Davey; Editing by Sonia Cheema)
((james.davey@thomsonreuters.com))
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