B&M has acquired 51 Wilko stores, stepping in after HMV owner Doug Putman’s effort to purchase most shops failed.
The discount retailer made a £13 million payment for these stores.
It doesn’t expect to need regulatory clearances for the transaction.
Read More: Wilko Store Rescue Faces Uncertainty Over Supplier Debt
According to Sky News, Putman faced opposition from Gordon Brothers in securing financing for his proposed takeover of 300 stores.
Additionally, Wilko’s major suppliers have insisted on debt repayment before resuming supply lines to the retailer.
Sky News reported that Putman remains in “constructive dialogue” with administrator PwC.
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He is considering a scaled-down deal that might involve around 200 stores, although no guarantees of an agreement exist.
The first wave of layoffs at Wilko commenced last week, with the potential for further job losses if extensive store closures occur.
