The discounter retailer B&M has agreed to buy 51 stores from the administrator looking after the collapse of the Wilkinson chain
The Liverpool headquartered group who have paid a reportedly £13m said in a statement to investors:
“The consideration is fully funded from existing cash reserves and the acquisition is not expected to be conditional on any regulatory clearances.”
It said an update on the timing of the new store openings will be provided alongside its half-year financial results on November 9.
Administrators have held talks with a raft of suitors, including HMV owner Doug Putman, in order to save Wilko’s 400 stores and 12,500 jobs.
Last week, PwC announced the first set of job losses linked to Wilko, with 269 support centre workers in Worksop and Newport being made redundant.
