B&M is one of the fastest growing retailers in the UK and also one of the leading variety discounters. Originally founded in 1978, it has been led by brothers Simon and Bobby Arora since they acquired the business in 2004. By March 2019, B&M traded through 620 B&M stores across the UK, taking it two-thirds of the way to its recently increased target of 950. It is investing in technology and infrastructure to support this expansion, including new warehouse management and voice picking systems, with a 1 million sq ft new southern distribution centre due to become operational in early 2020. B&M has expanded internationally through the acquisition of the German-based Jawoll business in 2014 and Babou stores in France in 2018. It also increased its presence in the UK through the acquisition of 250-store food retailer Heron Foods in August 2017, which has become the basis of a growing convenience store business.
B&M has upped its profit guidance for FY24, but said forecasting has been difficult against a volatile backdrop.
Rescue deals for former Wilko stores are “at risk” and could fall through as potential buyers try to negotiate more favourable terms with landlords, The Times has reported.
Value retailer The Range has made a deal to buy the Wilko brand from administrators PwC for around £5m, saving 36 jobs in the process.
Pepco Group has reached an agreement with administrator PwC to acquire up to 71 former Wilko sites.
News emerged this morning that a rescue deal by HMV owner Doug Putman had collapsed, leading to a further announcement of the likely closure of all 400 stores and the loss of 12,500 jobs by early October.
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