A deal has been struck for the homeowners of Poundland to take over the leases of as much as 71 Wilko shops.
The Pepco Group will rebrand the branches beneath the Poundland title, directors PwC mentioned.
In an announcement, Poundland mentioned it could give precedence to Wilko staff when hiring new workers for the outlets.
While the deal contains “up to” 71 Wilko shops, a spokesman mentioned the ultimate complete would rely on talks with the landlords of every web site to agree lease phrases.
It comes after a rescue deal involving the proprietor of HMV collapsed earlier this week, seemingly dashing hopes that every one of Wilko’s 400 branches may very well be saved.
The improvement prompted PwC to warn on Monday night that 9,100 Wilko workers had been set to be made redundant and that every one shops would shut down by early October.
Fellow low cost retailer B&M has already signed a deal to snap up 51 Wilko shops.
The 122 websites included within the agreements with Pepco and B&M make use of greater than 3,200 workers in complete.
Joint administrator Edward Williams mentioned: “Alongside the beforehand introduced settlement with B&M, we’re assured this sale will create a platform for future employment alternatives for individuals together with present Wilko group members at as much as 122 areas.
“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.”
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The areas of the branches acquired by B&M are but to be revealed as a result of they’re topic to a confidentiality settlement, the directors mentioned.
It comes after Wilko – owned by the founding Wilkinson household for many years – collapsed into administration final month.
A spokesman for Poundland mentioned the shops within the deal had been principally in areas had been it has a “limited presence”.
He added: “The lease assignments are expected to be completed in early Autumn, enabling these stores to join Poundland’s existing 800-plus UK estate and open in the important fourth calendar quarter of 2023.”
Poundland managing director Barry Williams added: “In the coming weeks we will work quickly with landlords so we can open these stores as Poundlands with the new ranges that have been pivotal to our recent development.
“And as soon as that course of is full, we are going to guarantee a major variety of the Wilko colleagues will be a part of our Poundland group.”
He added: “The Wilko shops will speed up our current transformation programme, providing wonderful worth for shoppers, offering development alternatives for suppliers and supporting employment within the excessive streets, purchasing centres and retail parks clients love.”
PwC mentioned the 71 shops within the take care of Pepco embrace the next branches:
Aberdare
Alfreton
Alnwick
Altrincham
Ammanford
Ashby
Barking
Bedminster
Beeston
Bicester
Bishop Stortford
Bletchley
Bolton
Brentwood
Brigg
Cambridge
Chepstow
Coalville
Cramlington
Droitwich
Eccles
Edmonton Green
Ellesmere Port
Ferndown
Gateshead
Grays
Greenock
Grimsby
Havant
Hayes
Headingley
Hessle Road – Hull
Hillsborough
Hitchin
Jarrow
Killingworth
Kimberley
Lee Circle
Leek
Leigh
Lichfield
Maidenhead
Matlock
Melton Mowbray
Nelson
Northallerton
Orton
Pembroke Dock
Peterlee
Pontefract
Pontypool
Redhill
Redruth
Ripley
Rugeley
Sale
Seaham
Selly Oak
Shrewsbury Darwin Centre
South Shields
Southport
Stafford
Stamford
Stockport
Thornaby
Wellington
Wembley
West Ealing
Wombwell
Worcester
Worksop
Source: information.sky.com”