Up to 71 Wilko stores to become Poundland shops in new deal

Pepco has sealed a deal which will see the stores reopened under the Poundland brand, PwC, administrators for Wilko, said.

Although workers at the stores will not be transferred directly as part of the move, Poundland said it will “prioritise” existing Wilko workers for roles when the shops are opened under the new brand.

Pepco seals a deal with PwC with Wilko stores set to reopen as Poundland shops

Edward Williams, a joint administrator at PwC, 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.”

Pepco to reopen up to 71 Wilko stores as Poundland shops (Image: Peter Byrne/PA Wire)

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 will prioritise recruiting existing Wilko staff when up to 71 of the collapsed retailer’s stores join its UK-wide estate.

Poundland’s managing director Barry Williams said: “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 once that process is complete, we will ensure a significant number of the Wilko colleagues will join our Poundland team.

“We know how valued Wilko colleagues have been in scores of communities across the UK and we look forward to offering them opportunities to join our family.

“We recognise the last few weeks have been difficult for them and we will move quickly to secure new consents from landlords so we can offer them the certainty they deserve.

“The Wilko stores will accelerate our existing transformation programme, offering amazing value for consumers, providing growth opportunities for suppliers and supporting employment in the high streets, shopping centres and retail parks customers love.”

This news 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 comes on the final day of trading for 24 Wilko stores, in the first phase of the chain’s mass closures.