Poundland owner closes in on 71 shuttered Wilko stores

Poundland owner Pepco Group is on the verge of snapping up 71 stores from collapsed Worksop retail giant Wilko.

Administrator PwC says it has struck a deal with the budget retail group with the “option to acquire” the shops after they had closed – although the locations have not been disclosed.

Edward Williams, joint administrator, said: “Alongside the previously announced agreement with B&M, we’re confident this sale will create a platform for future employment opportunities for people including current Wilko team members at up to 122 locations.

“We will continue to engage with other retailers around any interest in other Wilko sites and are confident of completing a sale of the brand and intellectual property within the coming days.”

Yesterday, PwC announced that 9,100 jobs would be axed at Wilko as it revealed the closure of 124 stores on or before Thursday 21 September – with another 222 to be closed “in due course”.