Discount shop with over 100 shops to take over more Wilko stores in weeks – and it’s not Poundland, B&M or The Range
A DISCOUNT firm with over 100 shops will take over more Wilko stores in weeks – and it’s not Poundland, B&M or The Range.
Budget retail company One Beyond has revealed plans for two more outlets in former Wilko branches in the run-up to Christmas.
The revamped stores – both in town centres – are now due to open in Ilkeston, Derbyshire, on December 1 and Waterlooville in Hampshire on December 15.
The moves follow homeware and hardware firm Wilko’s collapse into administration in August, putting 400 shops and 12,500 jobs in danger.
Rivals including B&M, Poundland and The Range were swiftly linked with linked with buying some of Wilko’s old locations.
And it was recently revealed One Beyond, which launched only four years ago, was also eyeing up sites as part of expansion plans.
The company currently has 107 outlets across the UK.
A spokesperson has now confirmed the proposed dates for the new Ilkeston and Waterlooville openings.
One Beyond had already announced takeovers of two former Wilko shops in Chelmsford, Essex, and Boston in Lincolnshire, with suggestions they were targeting eight more.
The firm hopes to boost its portfolio to 125 shops by next spring.
Chief executive Chris Edwards said last month: “We’re looking forward to bringing One Beyond’s incredible value to even more shoppers across the UK.”
The company sells 4,000 different products for £1, with thousands more costing extra.
A One Beyond spokesperson said: “We have now confirmed Ilkeston in Derbyshire for a December 1 launch and Waterlooville in Hampshire for December 15 – both town centre high street locations.”
MORE SHOPS SNAPPED UP
Wilko, founded in 1930 by James Kemsey Wilkinson, borrowed £40million last year from Hilco as well as cutting jobs and restructuring leadership – but still struggled to survive.
Administrators PwC tried in August to broker a deal involving potential buyers, including a mooted bid by HMV‘s billionaire owner Doug Pitman, but were unable to do so.
A full list showed the 400 Wilko stores in danger of closing.
The firm was criticised for reportedly paying £77million to owners and ex-shareholders before falling into administration.
The biggest pay-out over the past decade was said to be £63million in 2015, while share dividends of £3million were allegedly awarded last year despite Wilko suffering £39million annual losses.
Poundland‘s owners Pepco bought up to 71 ex-Wilko locations with plans to reopen under their own brand name, as the first 10 welcomed shoppers on September 10.
Another 10 followed on October 1, before a further 10 six days later.
B&M has also swooped for 51 outlets, while The Range snapped up Wilko’s name and website in a £5million deal – restoring a home delivery service on October 12.
Wilko’s was the largest UK retail collapse since McColl’s went into administration in May last year.
Yet that cornershop chain was saved when Morrisons stepped in and preserved 16,000 jobs.
Paperchase went into administration in January this year, and all 106 of its shops have since closed for good – though the brand name and intellectual property were purchased by Tesco.
Wellies retailer Joules and Scottish clothing brand M&Co went bust last year, having its brand name bought by Yours Clothing but without the shops staying open.