B&M has entered into an agreement with the joint administrators of wilko to acquire up to 51 properties for up to £13m.
The consideration is fully funded from existing cash reserves and the acquisition is not expected to be conditional on any regulatory clearances.
The discount retailer has been one of wilko’s main competitors. It is not yet known whether the shops’ staff will retain their jobs.
Meanwhile, HMV owner, Doug Putman, is understood to still be in talks with administrators, PwC, over a deal, with initial plans to buy around 300 stores hit by difficulties.
The news follows PwC confirming a raft of redundancies.
Wilko collapsed into administration last month (August), putting 12,000 jobs on the line.
The retailer opened its first store in Leicester 93 years ago, and has hosted its HQ in Nottinghamshire for the past half a century.
