Top left clockwise: Wilko in Preston, in Burnley, in Cleveleys and its proposed site in Blackpool. (Photo: Google Maps)
Wilko fell into administration last month, with insolvency experts from PwC spending recent weeks looking to secure a rescue deal for the retailer’s 400 stores and 12,500 jobs.
The B&M deal, comes after a bid from HMV buyers M2 Capital, to purchase the entirety of the collapsed high street retailer, fell through on Thursday last week.
Today (Tuesday, September 5), B&M European Value Retail said it has agreed to acquire up to 51 Wilko sites from the administrators in a deal worth up to £13m.
In an update to investers, a B&M spokesperson said: “The consideration is fully funded from existing cash reserves and the acquisition is not expected to be conditional on any regulatory clearances. An update on the timing of these new store openings will be provided in the H1…
