Wilko could be ‘snapped-up’ by B&M, Poundland or Home Bargains as retailers bid for collapsed chain
The retailers have until tomorrow to put in a bid for Wilko
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Poundland, B&M, The Range and Home Bargains are reportedly among retailers considering snapping up collapsed rival chain Wilko. The highstreet stores have until Wednesday (August 16) to put in offers with administrator PwC.
According to the Guardian, the deadline was moved forward as Wilko is at risk of running out of money over the period of the sale process. A shortlist will then be made for second-round bids by Friday this week, according to The Sun.
It is thought that some of the interested parties could bid for as many as 300 of Wilko’s 400 stores, which could minimise the amount of jobs being lost. According to The Retail Gazette, one would-be bidder is also interested in keeping the Wilko brand alive.
Private equity firms including Gordon Brothers, who are known for saving collapsed retailers like Laura Ashley, and Alteri were previously named as interested in making an offer for Wilko.
Wilko fell into administration last Thursday after failed attempts at securing a rescue deal. There was reportedly a lack of interest in taking on the firm when it was solvent, as it would mean taking on its debts and other financial obligations.