There are “genuine grounds for hope” for the future of high street retailer Wilko, according to the GMB union, after the company entered administration, endangering 12,500 jobs.
Discount chain B&M said today, Tuesday it will take on up to 51 of Wilko’s 400 UK stores in a deal worth £13m.
Wilko fell into administration in August as it struggled with sharp losses and a cash shortage.
Reports suggest a deal tabled by HMV’s owner to buy up to 300 shops has also stalled over issues with suppliers.
Wilko was founded in 1930 and by the 1990s became one of Britain’s fastest-growing retailers.
The first redundancies at Wilko – 269 jobs at its support centre in Worksop and 14 others at a subsidiary firm – started on Monday.
