B&M BARGAINS has entered into an agreement to buy 51 Wilko stores.
But the exact locations of the shops which are part of the deal is not currently being revealed due to confidentiality.
A statement this morning by Price Waterhouse Cooper (PWC), which was appointed as the joint administrators, said: “The joint administrators of the companies have today (September 5, 2023) entered into an agreement to provide B&M with the option to acquire up to 51 properties, after the administration trading period concludes at those sites.
“We continue to explore all interest in the remainder of the business and are actively working with potential buyers.
“We will provide further updates as soon as we are able.”
Wilkinson Hardware Stores Ltd, which has its headquarters in Worksop, Nottinghamshire, has 400 stores across the UK with just under 100 of those across the Midlands.
There are two Wilko stores in Coventry – at Cathedral Lane Shopping Centre in Broadgate and at Cannon Park – and there are others in Leamington Spa, Rugby, Solihull and Nuneaton.
The Group has been hit by challenging trading conditions, both throughout the pandemic and more recently as it has felt the impact of the cost of living crisis, resulting in increasing cashflow pressure and a deterioration in trading.
