Cambridge Wilko store on Fitzroy Street to become a Poundland with ‘significant number’ of staff transferring across

Wilko’s Cambridge store on Fitzroy Street will soon become a Poundland after administrators PwC agreed to sell 71 of the collapsed retailer’s shops to Poundland owner Pepco.

These sites will be turned into Poundland shops and former Wilko staff will be given priority for the new jobs created when they open.

Workers at the stores will not be transferred directly as part of the move, but Poundland has said it will “prioritise” existing Wilko workers for roles when the shops are opened under the new brand.

Poundland said its new lease agreements are set to be completed in “early autumn”, and it aims to open the stores by the end of 2023.

Managing director Barry Williams said: “In the coming weeks we will work quickly with landlords so we can open these stores as Poundland’s with the new ranges that have been pivotal to our recent development.

“Once that process is complete, we will ensure a significant number of the Wilko colleagues will join our Poundland team.

“We recognise the last few weeks have been difficult for them and we will move quickly to secure new consents from landlords so we can offer them the certainty they deserve.”

Family-owned Wilko employed 12,500 staff and ran 400 shops before it hired administrators early last month after it came under pressure from weak consumer spending and debts to suppliers.

Administrators had previously struck a deal for fellow discount chain B&M to buy 51 other Wilko stores.

PwC said around 3,200 Wilko staff currently work across the sites acquired by B&M and Pepco.

Edward Williams, joint administrator, said: “Alongside the previously announced agreement with B&M, we’re confident this sale will create a platform for future employment opportunities for people including current Wilko team members at up to 122 locations.

“We will continue to engage with other retailers around any interest in other Wilko sites and are confident of completing a sale of the brand and intellectual property within the coming days.”

By Thursday (September 14), 52 shops will have closed.

These closures will result in 1,016 redundancies, while administrators have also announced hundreds of other job cuts impacting warehouse and support centre staff.

A further 124 shops will shut for good next week as the process continues, with the final 222 stores all due to close by early October.

There are the 71 Wilko stores that are expected to become Poundland shops. They include Bishop’s Stortford, Brentwood, Cambridge, Hayes, Orton (Peterborough) and Stamford.