Wilko store deals at risk as new owners renegotiate leases
Wilko collapsed last month placing 12,500 jobs at risk after a rescue bid failed to materialise
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The proposed rescue deals for over 100 Wilko stores could reportedly be at risk as the new owners try to negotiate better terms with landlords, according to The Times.
The outlet revealed that B&M, which agreed a deal for over 50 Wilko stores, is thought to have delayed completing some of the deals in order to seek new lease terms and arrangements.
Meanwhile, Poundland – who has already opened 20 former Wilko stores – has also reportedly got a number of formal applications on properties yet to be submitted.
Wilko collapsed last month placing 12,500 jobs at risk after a rescue bid failed to materialise.
The Times reported that administrators PwC has so far received only £653,000 relating to holding costs for the properties.
It told the outlet: “The deals that have been concluded provide the purchasers with the opportunity to take on or agree new leases at the relevant vacant sites, subject to the outcome of their discussions with the relevant landlords.
“We hope that agreements will be reached as soon as possible and that new Poundland and B&M stores will soon be open to customers.”
