51 Wilko stores sold in £13m deal
Discount retail chain B&M has bought 51 Wilko stores, but administrators are yet to confirm whether staff at the sites will keep their jobs – or indeed which sites it has bought.
The £13m deal to buy the stores looks set to see them change their branding to B&M. The company said it will update on the timings of the openings in an interim results announcement on November 9.
B&M said: “The consideration is fully funded from existing cash reserves and the acquisition is not expected to be conditional on any regulatory clearances.”
On Monday, almost 300 Wilko workers were made redundant by administrators PwC.
HMV Doug Putman is in the frame to buy hundreds of Wilko stores, but it was reported over the weekend that the deal has hit difficulties.
