B&M set to save 51 Wilko stores from closure

B&M is set to save 51 of its rival Wilko stores from closure.

It is reported that B&M European Value Retail is close to securing a deal worth £13m.

Rival discount chain Wilko fell into administration last month after rescue talks with private equity firms and rival retailers fail to reach a solution. ‌

Wilko had been engaged in negotiations with various firms, including Laura Ashley-owner Gordon Brothers, Bensons for Beds-owner Alteri, and OpCapita about a potential rescue deal via a company voluntary arrangement (CVA). ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The company has 400 stores across the UK – including one on Island Green – and employs around 12,000 members of staff.

Details of which stores B&M have purchased or shown an interest in have yet to be confirmed.​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​