Wilko deal collapses

A deal to buy the majority of Wilko stores has collapsed.

Doug Pitman’s attempt to buy about 300 branches and the brand of homewares chain Wilko has failed. 

‘It is with great disappointment that we can no longer continue in the purchase process for Wilko having worked with administrators and suppliers over several weeks to seek a viable way to rescue it as a going concern. A stable foundation could not be secured to ensure long-term success for the business and its people in the way that we would have wanted,’ the HMV owner says.

It has been reported that Pitman had struggled to raise the finance for the deal and so reduced his plan to 100 stores.

Sky News has reported that The Range is in prime position to acquire the chain’s brand with Poundland in talks over dozens of stores.

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