B&M has announced it has agreed to buy 51 Wilko stores in a deal worth £13m. It comes after a bid to purchase the entirety of the collapsed high street retailer fell through last week.
Wilko employed about 12,500 people prior to calling in administrators. Try MEN Premium for FREE by clicking here for no ads, fun puzzles and brilliant new features “The consideration is fully funded from existing cash reserves and the acquisition is not expected to be conditional on any regulatory clearances”, B&M said in an update to investors.
It said an update on the timing of the new store openings will be provided alongside its half-year financial results on November 9. This is a breaking story and will be updated.
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