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Gloucestershire Business News

Wilko rivals ready to snap it up?

Wilko rivals Poundland and B&M are among the businesses considering snapping up the collapsed chain.

Fellow value retailers, The Range and Home Bargains, are also among the businesses thinking about putting in a bid for Wilko, which has stores in Cheltenham, Gloucester and Stroud and went into administration last week.

The retailers have until today (August 16) to lodge offers with administrator PwC, before a shortlist is made for second-round bids by Friday (August 18), as reported by Retail Gazette.

There was originally a lack of interest in snapping up Wilko when it was solvent, which would have meant taking on its financial obligations, including debts. During the insolvency process, buyers can choose which bits of the business they are interested in.

Since 2015, potential bidders B&M, Home Bargains and The Range have all overtaken Wilko's non-food market share.

All Wilko stores have continued to trade since it went into administration, with no jobs lost yet.

Wilko launched an administration sale across its stores earlier this week, with discounts on thousands of items.

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