The company is gearing up to launch in Austria following the acquisition of up to 29 store leases in the country.

The owner of the Pepco Dealz brands in Europe and Poundland in the UK said a framework agreement has been signed between Pepco Poland and CCC Austria that will allow for an instant nationwide footprint of stores in proven locations across Austria.

Completion of the agreement is on course to be finished by the end of September so that the locations will be allowed to trade in the fourth quarter of the year.

Andy Bond, Pepco Group Chief Executive, said: “Following Pepco’s successful launch in both Italy and Spain, the signing of this agreement is a further statement of our confidence in the compelling proposition that we believe Pepco brings to customers across the entirety of Europe. We are confident that the combination of market leading prices, product quality and choice that Pepco is famous for combined with the high quality stores we are acquiring will prove a winning combination to our new customers in Austria, as a key part of our ambitious plans to become Europe’s pre-eminent discount variety retailer.”