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Steinhoff unit Pepkor Europe rebrands to Pepco Group

Steinhoff International Holdings NV on Sept. 30 said its London-based apparel unit Pepkor Europe Ltd. changed its name to Pepco Group.

The move directly links the business to PEPCO, Steinhoff's Central Europe operations.

According to the release, Pepco Group has completed its long-term €475 million refinancing package and has improved its management team with a number of senior appointments. Steinhoff considered an IPO for Pepco in August when it was in the midst of raising funds for its now-completed restructuring plan.

In a separate announcement, the South African retailer said it cannot meet the deadline that was initially set for the publication of Steinhoff Investments' annual financial statements.

Steinhoff Investments is the issuer of the preference shares that are listed but suspended on the Johannesburg Stock Exchange.

The home furnishings retailer did not disclose a new target deadline for the financial statements, noting that the tasks "remain complex and uncertain."

"There remains a substantial amount of work in order to prepare, and then to audit, the company's annual financial statements," Steinhoff said.