Last summer, the German subsidiary of retailer Pepco NV filed for insolvency. Following a comprehensive restructuring that included significant cuts to its store network, the discounter is now set for a fresh start in the country.
The self-administered insolvency proceedings for Pepco Germany GmbH, which began on October 1, will end on February 28, the company announced on Monday. The creditors’ meeting had already unanimously approved the proposed insolvency plan on January 14. This plan has since been legally confirmed by the responsible District Court of Berlin-Charlottenburg.
Discounter has significantly reduced its German store network
In the future, the retail chain will have a significantly smaller presence in Germany. It was…