The discount chain B&M has struck a deal to buy 51 Wilko stores for up to £13m news has emerged - but doubts remain over the Letchworth store.

Stricken retailer's administrators rush to seal last-minute deals with the fate of thousands of jobs hanging in the balance - including Wilko on Eastcheap.

Discount retailers B&M - valued at around £5bn by City experts - revealed said the business would acquire 'up to 51' Wilko sites for a 'maximum aggregate consideration' of £13m.

However, doubt still remains over our town's branch.

Nub News paid a visit to the struggling store on Monday to find numerous empty shelves, a raft of discounts on stock that is no longer avaialble and low staff morale as the uncertainty remained over the future of the store and job at 11 Eastcheap.

Despite the numerous empty shelves, a source at the Letchworth store told Nub News: "Deliveries are still turning up and we haven't been told we are closing. Yet."

B&M is one of a number of suitors hoping to snap up parts of Wilko's 400-store chain that fit their own expansion plans.

As reported by Nub News Wilko went into administration last month.

A statement from B&M said they had "entered into an agreement today with the joint administrators of Wilko Limited (in administration) to acquire up to 51 properties for the maximum aggregate consideration of £13,000,000.

"The consideration is fully funded from existing cash reserves and the acquisition is not expected to be conditional on any regulatory clearances.

"An update on the timing of these new store openings will be provided in the H1 interim results announcement on November 9, 2023."

RELATED ARTICLES

Letchworth: Wilko set to call in administrators leaving jobs in Eastcheap store at risk

Troubled budget retailer Wilko calls in administrators with more than 12,000 jobs at risk including Letchworth store

Not much pillowy softness on show in the toilet paper aisle at Letchworth's Wilko when Nub News paid a visit on Monday (September 4). CREDIT: Nub News