Poundland to take on Wilko store leases in Alnwick and Cramlington after deal with administrators

Wilko entered administration in August and successive bids to save some or all stores have collapsed, but Wilko administrators PwC have now agreed to a Poundland takeover of 71 sites.

The firm aims to reopen the stores under its own brand by the end of the year.

A deal has also been done for B&M to take over 51 sites, but these locations are not yet disclosed.

Joint administrator Edward Williams said: “Alongside the previously announced agreement with B&M, we are 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 Group executive chairman Andy Bond added: “The agreement to take control of a number of Wilko store leases will help to bring Poundland’s fantastic prices and offer to even more customers in the UK.

“It will be pleasing to offer employment to a number of Wilko’s colleagues, who will benefit from being part of a successful and fast-growing pan-European variety discount group.”

Wilko’s Cramlington location will close on Thursday, September 21, with the last day for staff the following day, and Wilko in Ashington will close on Sunday, September 17, with employees working until Tuesday, September 19.

Closing dates for other Northumberland locations have not been announced but it is expected that all will close by October.