PwC, administrators for Wilko, said that Pepco has sealed a deal which will see the stores reopened under the Poundland brand.
Workers at the stores will not be transferred directly as part of the move, but Poundland has said it will “prioritise” existing Wilko workers for roles when the shops are opened under the new brand.
The first Wilko stores closed their doors for the final time today
Poundland said its new lease agreements are set to be completed in “early autumn”, aiming to open the stores by the end of 2023.
It comes a day after administrators confirmed all the group’s remaining shop, warehouse and support centre workers are set to lose their jobs after failing to secure a rescue deal.
Family-owned Wilko employed 12,500 staff and ran 400 shops before it hired administrators early last month after it came under pressure from weak consumer spending and debts to suppliers.
The announcement also comes on the final day of trading for 24 Wilko stores, in the first phase of the chain’s mass closures.
Administrators had previously struck a deal for fellow discount chain B&M to buy 51 other Wilko stores.
PwC said around 3,200 Wilko staff currently work across the sites acquired by B&M and Pepco.
Edward Williams, joint administrator, said: “Alongside the previously announced agreement with B&M, we’re confident this sale will create a platform for future employment opportunities for people including current Wilko team members at up to 122 locations.
“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.”
The full list of Wilko stores set to be turned into Poundland shops
Hessle Road, Hull
Shrewsbury Darwin Centre
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