Wilko sells £48m distribution centre as it battles to shore up balance sheet

Wilko Ramsgate

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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