In a recent development, administrators at PwC have confirmed that The Range has successfully acquired the brand, website, and intellectual property of Wilko for a reported £5 million. This acquisition encompasses the family-owned chain’s assets, allowing Wilko’s online operations to resume after the completion of the administration store trading program in early October.
As part of the transaction, 36 employees from Wilko’s digital team will be transferred to The Range. Jane Steer, joint administrator at PwC, expressed confidence in the decision, stating, “This sale to The Range will ensure that the Wilko name lives on under their ownership, and we wish The Range every success.”
The Range, established by entrepreneur Chris Dawson in Devon, has expanded to over 200 stores and is currently engaged in an ambitious growth strategy. The company is developing what it claims to be the largest distribution center built in the UK in the past five years to support its expansion efforts.
It’s worth noting that The Range faced competition from the online marketplace OnBuy in its bid to acquire Wilko’s brand assets. The acquisition by The Range follows the news that Wilko’s 400 stores are set to close after a proposed offer from HMV owner Doug Putman fell through. In the aftermath, B&M secured a deal to acquire 52 stores, and Poundland acquired 71 shops, with plans to convert them to its brand name.
Poundland has assured that Wilko staff will have priority when applying for roles at the acquired shops. However, the unfortunate consequence of these closures is the loss of thousands of jobs. Earlier this week, 9,100 workers were informed that their jobs would be terminated as the stores close by early October. The closure process involves 124 stores shutting down before next Thursday (21 September), and the collapsed retailer’s distribution center ceasing operations on Friday (15 September).
Additional redundancies of the remaining 210 support center employees will take place later this month and early October as operations wind down. The acquisition by The Range is expected to contribute to the continued existence of the Wilko brand under new ownership, preserving a much-loved and trusted name in the UK retail landscape.
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