Pontefract Wilko among 71 stores bought by Poundland in new deal

Pepco Group, which owns Poundland in the UK, is expected to convert up to 71 Wilko stores to the Poundland brand and potantially save numerous jobs.

In a statement, Poundland boss, Barry Williams, said he recognised the last few weeks had been difficult for Wilko workers.

The company said that Wilko staff would have priority when applying for new jobs at the Poundland shops.

The deal includes "up to" 71 Wilko outlets, while the final total would depend on talks with the landlords of each site to agree lease terms.

Wilko plunged into administration almost a month ago, placing 12,500 jobs at risk.

Since then, various deals to recover the stores, and the brand itself, have been discussed – with HMV in discussion to ‘rescue’ the popular shop.

However, rescue talks with HMV owner, Doug Putman, failed to reach a successful deal.