B&M rescues 51 Wilko retailers in £13 million deal
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&M has purchased 51 Wilko retailers for £13 million after the agency collapsed into administration.
It comes amid experiences {that a} bigger rescue deal, from HMV proprietor Doug Putnam, hit a snag, that means a lot of shops could also be compelled to shut.
Redundancies started at Wilko’s head workplaces yesterday, with warehouse workers additionally set to lose their jobs this week, as there have been no bids on the desk that included Wilko’s assist workers.
However, this deal ensures that quite a lot of store workers will nonetheless have the ability to maintain their jobs.
B&M mentioned it will pay for the retailers by way of money reserves. It didn’t reveal which retailers had been included.
Administrators at PwC took over Wilko final month, after makes an attempt to promote your entire enterprise failed.
According to Sky News, Putnam remains to be in talks about shopping for as many as 200 retailers, however that is lower than the 300 he had initially hoped to purchase.
Wilko has 400 retailers in complete, using round 12,000 folks.
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