THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2023
THE Retail Conference 2023
Customer Engagement Strategy 2023
Retail HR North 2024
Omnichannel Futures 2024
Retail HR Central 2024
The Future of The High Street 2024
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Wilko: B&M snaps up 51 stores for £13m

B&M has confirmed that it will buy 51 Wilko stores for £13m following the highstreet stores collapse. The rival discount chain, which has over 700 sites… View Article

GENERAL MERCHANDISE NEWS

Wilko: B&M snaps up 51 stores for £13m

B&M has confirmed that it will buy 51 Wilko stores for £13m following the highstreet stores collapse.

The rival discount chain, which has over 700 sites across the UK, did not mention how many job roles would be saved in the process.

On the sale, its share price was down more than three per cent at the open, as B&M led FTSE 100’s losses by 10.30.

It comes following reports in Sky News this morning that HMV owner Doug Putman’s rescue deal will likely not include the majority of the Wilko portfolio.

Putman, who also owns the Canadian arm of Toys R Us, is understood to have reduced his offer from around 300 stores to 200, after he encountered difficulties during talks with Wilko suppliers.

The concerns come despite the businessman securing financing from investment company Gordon Brothers.

He is said to be in continued talks with PwC about the possibility of a deal but it was not guaranteed that an offer would be reached.

Putman’s bid for the highstreet stores has been regarded as a last chance to save a large quantity of jobs at the retailer.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News