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 future of the Hitchin 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 Bancroft.

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 situated in Hitchin town centre. .

Despite the numerous empty shelves, a source at the Hitchin store told Nub News: "We haven't been told anything. We'll just keep plugging away."

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

Hitchin: Wilko set to call in administrators leaving jobs at Bancroft store at risk

Wilko collapses into administration after rescue talks fail - fears grow over future of Hitchin branch

Empty shelves at Hitchin's Wilko when Nub News paid a visit on Monday, September 4. CREDIT: Nub News