Liverpool-based FTSE 100 firm B&M European Value Retail S.A. confirmed on Tuesday it agreed with the joint administrators of Wilko Limited (in administration) to acquire up to 51 properties for the maximum aggregate consideration of £13 million.

“The consideration is fully funded from existing cash reserves and the acquisition is not expected to be conditional on any regulatory clearances,” said B&M.

“An update on the timing of these new store openings will be provided in the H1 interim results announcement on 9 November 2023.”