The Range buys Wilko brand in £5m deal

Value retail chain, The Range, is set to take control of the Wilko name.

Reports by Sky News suggest that The Range has bought the Wilko brand from administrators PwC in a deal worth around £5m.

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.