B&M agrees to acquire 51 Wilko sites in a deal worth up to £13 million

Following the collapse of Wilko B&M has done a deal with administrators to buy up to 51 stores in a deal worth up to £13 million.

Administrators are also in talks with HMV owner Doug Putman which could see 400 Wilko stores saved including 12,500 jobs.

B&M European Value Retail said on Tuesday in a statement, “The consideration is fully funded from existing cash reserves and the acquisition is not expected to be conditional on any regulatory clearances.

“An update on the timing of these new store openings will be provided in the H1 interim results announcement on November 9.”