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B&M European Value Retail SA is in talks with administrators to acquire up to 50 stores of the failed Wilko chain, Sky News reported late Wednesday. Wilko administrator PricewaterhouseCoopers is in talks to divide up parts of the household goods and homewares seller’s 400 store estate. B&M is mulling taking on between 40 and 50 stores, Sky said, and Poundland-owner Pepco possibly acquiring around 100. Steinhoff International Holdings NV of South Africa indirectly holds about 72% of Pepco. Discount department stores chain TOFS, or The Original Factory Shop, is in talks to buy 10 stores. Even if those stores are acquired, it may still mean that most of Wilko’s estate could suffer permanent closure. https://news.sky.com/story/wilko-job-fears-deepen-as-poundland-owner-eyes-swoop-on-100-stores-12946031 Administrators for stricken Wilko denied planned to close stores as early as next week, PA reported on Wednesday, after the GMB union said ‘the majority’ would be shut. The GMB, which represents more than 3,000 of Wilko’s 12,500 staff, said it was told the high street chain is set to announce a raft of redundancies as a result. The retailer fell into administration two weeks ago. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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