Poundland owner Pepco Group and B&M European Value Retail, which trades as B&M, are reportedly in talks to acquire around 150 of Wilko’s stores, following failed attempts to find a buyer for the whole group.
Value variety chains Poundland, B&M and The Original Factory Shop (Tofs) are in line to buy parcels of Wilko’s 400-strong store estate, according to Sky News.
PwC is reportedly in advanced talks to sell off sections of Wilko’s estate, with Pepco Group in discussions to swoop in on roughly 100 stores.
B&M is also in negotiations to snap up between 40 and 50 shops, while Tofs is said to have lodged offers to buy 10.
PwC confirmed on Wednesday that, although threre had been interest from buyers in parts of the business, it was unable to secure a purchase for the business as a whole. As a result, it said it was likely that there would be redundancies and store closures in the coming weeks.
Retail industry sources said an announcement was expected to be made by PwC on Thursday outlining the sale agreements with at least some of the bidders.
However, even if its value rivals secure the stores they are bidding for, it is still likely that more than 200 Wilko stores could be closed permanently, with more than 6,000 jobs lost.
Wilko announced it was entering administration earlier this month, putting 12,500 jobs and 400 stores at risk.
GMB union said Wilko’s collapse was a result of “incompetence” on the part of its bosses, who had “gambled workers’ jobs on a whim”, warning redundancies for staff in stores and at callcentres would begin in the coming week.
GMB national secretary Andy Prendergast said: “GMB union will continue to support members through this process and will fight to ensure members are consulted as per the law and that you receive every penny you are entitled to. ”
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