Majority of Wilko stores will not find buyers

Hundreds of Wilko stores will close as administrators weigh offers from rival retailers. Administrators from PwC have been seeking offers from interested parties in an effort to save the business, but have now acknowledged that at least half of the 400 stores will close. Yesterday they said a deal for the whole group was not on the cards. Instead the discount retailer is likely to be broken up. Pepco Group, the owner of Poundland, is in talks to buy roughly a quarter of Wilko’s 400 stores, while B&M European Value Retail could acquire more than 40 shops. Other value retailers, including the Original Factory Shop, which is owned by private equity firm Duke Street, have lodged offers to acquire smaller parcels comprising about 10 sites. The Times (£)The FT (£)The Telegraph (£)The GuardianSky News