Wilko deals could collapse as rivals play hardball with landlords

Deals for rivals to take 100 Wilko stores could collapse as potential buyers try to negotiate more favourable terms with landlords. B&M European Value Retail has an option on 51 sites, but has been accused of delaying completing deals while it seeks to set up new rent and lease arrangements and to renegotiate the terms in its favour. Poundland is also negotiating with landlords and is trying to line up back-to-back rent deals on the 71 Wilko stores it had the option to take on last month. Poundland said yesterday that it had formally taken over 20 former Wilko stores, but across both retailers there are still 100 formal applications yet to be submitted for the remaining stores. The administrators’ report revealed last week that landlords and other unsecured creditors were owed £550m when Wilko collapsed but could recover as little as 4p in the pound. The Times (£)