Poundland owner agrees to take up to 71 Wilko stores

Poundland owner Pepco Group has agreed a deal with administrators to take control of up to 71 Wilko store leases. Pepco expects to be able to open the stores as Poundland shops after the administration trading period concludes at those sites. The lease assignments are expected to be completed in early Autumn. Poundland’s existing UK estate comprises more than 800 locations. The 71 stores included in the deal with Pepco and 51 stores included in an agreement with B&M collectively employ more than 3,200 Wilko team members. 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.” Poundland 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.” He added: “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.” The 71 stores in the agreement reached with Pepco: Aberdare Alfreton Alnwick Altrincham Ammanford Ashby Barking Bedminster Beeston Bicester Bishop Stortford Bletchley Bolton Brentwood Brigg Cambridge Chepstow Coalville Cramlington Droitwich Eccles Edmonton Green Ellesmere Port Ferndown Gateshead Grays Greenock Grimsby Havant Hayes Headingley Hessle Road – Hull Hillsborough Hitchin Jarrow Killingworth Kimberley Lee Circle Leek Leigh Lichfield Maidenhead Matlock Melton Mowbray Nelson Northallerton Orton Pembroke Dock Peterlee Pontefract Pontypool Redhill Redruth Ripley Rugeley Sale Seaham Selly Oak Shrewsbury Darwin Centre South Shields Southport Stafford Stamford Stockport Thornaby Wellington Wembley West Ealing Wombwell Worcester Worksop To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Photo © Maureen McLean/Shutterstock