The Range acquires Wilko brand in £5m deal as high street stores face closure

In a follow-up on our story about Wilko staff redundancies, it has been reported by BBC News that The Range has stepped in to purchase the Wilko brand, securing its website and potential product offerings

Administrators said 36 Wilko workers had transferred over to The Range and it expects the online operations to restart in early October.

However, the deal, understood to be worth £5m, will not prevent Wilko shops disappearing from UK High Streets.

Nearly all of the company’s 12,500 staff will lose their jobs due to the closures.

Wilko’s rivals have been snapping up parts of the company since administrators could not find a buyer for the whole business.

Some staff may be re-employed as a result.

Jane Steer, one of the PwC administrators, said Wilko “remains a much loved and trusted brand within the UK”, adding that the deal with The Range means “the Wilko name lives on”.

The Range, which has 210 UK stores, also plans to sell click-and-collect products from the Wilko.com website.

Its chief executive, Alex Simpkin, said The Range was delighted to have bought the Wilko brand, which “comes at a time when consumers are more than ever wanting to shop with confidence for value and quality”.

Wilko is a value-led store, and consumers have increasingly been looking for bargains during the cost of living crisis.

But the company, founded in 1930 and a stalwart of High Streets up and down the country, fell into administration in August as it struggled with sharp losses and a cash shortage.

The billionaire owner of HMV, Doug Putman, initially hoped to keep as many as 300 Wilko shops open, but his bid failed and no other bidders were interested in running the shops under the Wilko name.

The owner of Poundland agreed a deal to take on the leases of about 71 Wilko shops, which will reopen under its own brand.

Another rival B&M has also agreed to buy 51 of Wilko’s shops in a £13m deal.