Fri. Sep 29th, 2023
    Wilko to Close 86 Stores as The Range Strikes New Deal

    A total of 86 Wilko stores, including several in the North East of England, are set to close this week. The closure follows the administration of Wilko, which had over 400 shops and employed 12,500 workers across the UK.

    The store closures began last week, with the first 24 shutting their doors on Tuesday, September 12th. The second batch of 28 closed on Thursday, September 14th, followed by an additional 38 on Sunday, September 17th. Another 38 will close on Tuesday, September 19th, with the final 48 shutting down on Thursday, September 21st.

    The stores that will be affected include those in Newcastle, Gateshead, County Durham, South Tyneside, and Northumberland. It is expected that all Wilko stores will be closed by early October.

    This closure follows a new deal made between Wilko and The Range, where The Range has acquired the Wilko brand, website, and intellectual property. However, the deal did not include physical store locations.

    Administrators at PwC have stated that online operations are expected to resume in early October. As part of the deal with The Range, 36 employees from Wilko’s digital team have been transferred to The Range.

    In addition to The Range, Poundland has also announced that it is taking on the leases of up to 71 Wilko stores. These stores will be rebranded as Poundland stores, and existing Wilko staff will be given priority for job opportunities after the transaction is completed.

    B&M, another discount chain, has confirmed its plans to purchase up to 51 Wilko stores, which will be rebranded as B&M stores.

    Source: The Mirror

    – Administration: The process where a company is placed under the control of an administrator to manage the company’s affairs and potentially save or liquidate its assets.
    – Intellectual property: Legal rights that protect creations of the mind, such as inventions, designs, and artistic works.
    – Leases: Agreements that allow one party to use property owned by another party in exchange for rent payments.

    Note: This information is based on the source article and includes additional details and clarification.