The Range agrees £5m deal for Wilko brand
The Range has swooped after Doug Putman, the HMV owner, pulled out of a deal to salvage as many as 300 shops after his financing was cancelled
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Value retail chain The Range has agreed a deal to purchase the Wilko brand in a deal worth £5m, according to reports from Sky News.
The deal is expected to be announced later on Wednesday and will be the latest in a series of transactions signed by administrators PwC.
More than a quarter of Wilko’s stores have been sold off to B&M and Poundland owner Pepco.
It remains unclear whether staff at those stores will remain once the stores are transferred to new owners.
The Range has swooped after Doug Putman, the HMV owner, pulled out of a deal to salvage as many as 300 shops after his financing was cancelled.
Prior to the collapse of that transaction, PwC had already announced about 1,600 redundancies since the family-owned chain crashed into insolvency last month.
