Wilko name to live on after £5m deal
Value retail chain, The Range, is set to take control of the Wilko name.
The Range has bought the Wilko brand from administrators PwC in a deal worth around £5m, which will mean the Wilko name will live on, online. Some 36 people from Wilko’s digital team have transferred over to The Range.
Jane Steer, joint administrator, said: “Since our appointment, the feedback from customers and wider stakeholders during this challenging period has reinforced the fact that Wilko remains a much loved and trusted brand within the UK. This sale to The Range will ensure that the Wilko name lives on under their ownership and we wish The Range every success.”
The deal follows Poundland owner PepCo lining up a deal to buy 71 Wilko stores when they close over the next week, and B&M snapping up 51 in a similar deal.
Around 10,000 people look set to lose their jobs at Wilko as a deal to find a buyer for the majority of the business failed earlier this week when HMV owner Doug Putman ended discussions with PwC.