Wilko has completed the sale and leaseback of one of its distribution centres as it struggles to shore up its balance sheet after a bruising trading period.
Retail Week can reveal the embattled value operator has sold its distribution centre in Worksop, Nottinghamshire, to logistics giant DHL for £48m. It has leased the site back on a 15-year agreement.
The move comes just over a month after Retail Week revealed that Wilko had drafted in advisory experts from Teneo to cut costs across the business in the face of the cost-of-living crisis.
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