Wilko rival B&M saves up to 51 stores from closure

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4 minutes ago

Discount chain B&M has agreed to buy dozens of shops from the collapsed retailer Wilko, as talks over a bigger rescue deal hang in the balance.

B&M said it will buy up to 51 Wilko stores from administrators in a deal worth £13m.

Wilko, which has 400 shops in total, fell into administration in August as it struggled to pay debts.

Reports suggest a deal tabled by HMV's owner to buy up to 300 shops has stalled over issues with suppliers.

Wilko was founded in 1930 and by the 1990s became one of Britain's fastest-growing retailers.

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