The Range has secured the Wilko brand for a purported £5m, beating OnBuy who had also been pursuing a deal.
Plymouth headquartered, The Range has over 200 stores which sell a product assortment not entirely dissimilar to that carried by Wilko. However, where The Range has thrived with its lower cost out-of-town/edge-of-town locations with car parking, Wilko’s predominantly town centre stores had been losing footfall due to the absence of close by parking whilst paying much higher costs for its premises.
The Range now has the option of introducing lines under the Wilko brand name as well as using the Wilko name online., using its own chain of stores for Wilko click & collect. As part of the deal The Range takes on 36 members of Wilko’s digital team. The Range CEO Alex Simpkin said: “We are delighted to have acquired this brand and we will ensure that the Wilko brand will continue to deliver for the UK consumer, both in-store and online.
“I am also delighted that we were able to retain the Wilko digital trading team, the team are very skilled and experienced, and it means a lot to us to ensure we could save as many ‘fellow’ retail positions as possible.”
Jane Steer, joint administrator said: “Since our appointment, the feedback from customers and wider stakeholders during this challenging period has reinforced the fact that Wilko remains a much loved and trusted brand within the UK. This sale to The Range will ensure that the Wilko name lives on under their ownership and we wish The Range every success.”