THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omni Channel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Wilko sells distribution centre to DHL for £48m

Wilko has sold its distribution centre in Worksop, Nottinghamshire, to logistics giant DHL for £48m to help refinance the business. The retailer has leased the site… View Article

GENERAL MERCHANDISE

Wilko sells distribution centre to DHL for £48m

Wilko has sold its distribution centre in Worksop, Nottinghamshire, to logistics giant DHL for £48m to help refinance the business.

The retailer has leased the site back from DHL under a 15-year partnership agreement. The move comes as Wilko battles to cut costs across the business due to the impact of the cost of living crisis on trading.

The business refinancing will allow the homes and garden retailer to improve its proposition and customer experience across its 402 stores and online, according to Wilko.

It said day-to-day operations at the warehouse would remain unchanged.

“It also means Wilko can concentrate its efforts on doing what it does best – supplying hard-working families with great-value products, easily accessible either online or in store,” the company said.

Wilko CEO Jerome Saint-Marc added: “It’s standard business practice to constantly review how we manage our finances. This property deal with DHL represents long-term stability for us and our team members and is the right response to the current market conditions and our priorities.

“We’re making smart choices to trade as a business and allow us to continue to invest in our long-term transformational strategy. Wilko remains family-owned and continues to focus on helping hard-working families to be the best they can be, delivering great-value products to our customers.”

Wilko’s latest full-year accounts, for the 12 months ended 30 January 2021, showed sales fell 7.3% to £1.4bn as lockdowns hit high street footfall.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News