Value retail chain The Range is set to purchase the Wilko brand IP for £5 million, with the deal expected to be announced later on Wednesday.
Representing just one of the multiple deals taking place following the closure of the discount store, The Range's deal means more than 10,000 jobs still hang in the balance as Poundland and B&M are yet to divulge whether staff will be transferred along with the 120 stores they've purchased.
Poundland takes option over batch of Wilko stores
Poundland Group PLC (LSE:PLND) confirmed it will take on the leases of up to 71 of Wilko's 400 stores after the chain's collapse and indicated jobs would be saved but not how many.
Barry Williams, Poundland's managing director, said: "In the coming weeks we will work quickly with landlords so we can open these stores.
"And once that process is complete, we will ensure a significant number of the Wilko colleagues will join our Poundland team."
Wilko collapsed into administration last month with an attempt to keep 300 of the stores faltering earlier this week when a deal with HMV owner Doug Putnam collapsed due to complications over financing.
Poundland, which is owned by Pepco, said the stores acquired would be rebranded.
Last week another discount rival, B&M, snapped 51 stores from Wilko’s administrator, PwC, though the locations of these have yet to be disclosed.
Wilko ran into difficulties due to competition from B&M and Poundland among others after the pandemic and was not able to recover.