A Wilko store in Bucks will close this week before turning into a new Poundland branch.

Despite what has been a frantic few weeks for Wilko after the 90-year-old British brand fell into administration in August, the economic factors that precipitated the retailer's collapse do not appear to have had the same impact on its high-street competitors. 

Rather the owners of beloved cost-cutting shops Poundland and B&M have splashed out on purchasing Wilko's former retail space following a series of mass closures by the chain. 

Pepco, the owner of Poundland, has bought 71 of Wilko's former sites around the UK, including the large branch in Bletchley, Milton Keynes, following in the footsteps of B&M, who purchased 51 branches last month. 

The Wilko store in Bletchley is one of 52 shops that have or will close this week, causing thousands of redundancies.

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On Monday, administrators for Wilko announced the locations of a further 124 stores which will shut between September 17 and September 21, with the remaining 222 UK branches expected to shut by early October, impacting all of the chain's previously 12,5000 strong workforce. 

Accounting firm PricewaterhouseCoopers (PwC) confirmed yesterday (September 12) that 71 Wilko stores would close and reopen under the Poundland brand before the end of 2023.

PwC indicated that existing Wilko workers would be "prioritised" for roles at the new Poundland branch, although they would not be transferred directly as part of the move. 

Managing Director of Poundland Barry Williams said: "We recognise the last few weeks have been difficult for Wilko colleagues and we will move quickly to secure new consents from landlords so we can offer them the certainty they deserve.”