September 14th 2023.
The Wilko brand has been bought by The Range in a deal worth £5 million, it has been confirmed. The Range has secured the Wilko website and intellectual property after the high street chain tumbled into administration last month.
Despite the deal, Wilko's name won't disappear from high streets for good, with The Range confirming that it will sell Wilko products in-store. Administrators at PwC have been seeking to sell off Wilko's assets in recent weeks, including its brand and shops, after failing to secure a rescue deal for the whole business.
This means more than 10,000 Wilko workers are set to lose their jobs by next month. PwC said it expects Wilko’s online operations to restart under the new ownership once the closure of Wilko’s remaining stores is completed in early October.
The deal also includes 36 workers from Wilko’s digital team transferring over to The Range. Wilko has been a mainstay on British high streets since the 1930s. Jane Steer, joint administrator, commented that, “Since our appointment, the feedback from customers and wider stakeholders during this challenging period has reinforced the fact that Wilko remains a much loved and trusted brand within the UK. 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, which runs 210 stores across the UK, has said it will also offer click and collect on products from Wilko.com. Alex Simpkin, chief executive officer of The Range added, “This acquisition comes at a time when consumers are more than ever wanting to shop with confidence for value and quality. We are delighted to have acquired this brand and we will ensure that the Wilko brand will continue to deliver for the UK consumer, both in-store and on-line. I am also delighted that we were able to retain the Wilko digital trading team, the team are very skilled and experienced, and it means a lot to us to ensure that we could save as many ‘fellow’ retail positions as possible.”
Wilko started its store closure programme earlier this week and Thursday is set to be the final day of trading for 28 further shops. Shelves have slowly been wiped clean by customers frantically getting their last fix of the famous store. Wilko, which was previously called Wilkinson’s, was originally founded by James Kemsey Wilkinson in Leicester in 1930.
Earlier this week, Poundland confirmed it had bought 71 of the old Wilko stores. These branches will be rebranded under the Poundland name and while Poundland said it can’t guarantee all jobs at those locations will be saved, they will ‘prioritise’ the recruitment of former Wilko staff.
It has marked the end of an iconic era for the British high street, with the store popular for its array of items and ‘odd bits’. Wilko has been a mainstay of British life for almost a century and it's sad to see it go.
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