DISCOUNT retailer Wilko has had up to 51 of its stores saved by rival chain B&M after it fell into administration last month.

The deal, which could be worth as much as £13million, could see the chain’s North Wales stores in Rhyl, Llandudno, Porthmadog, Pwllheli, Holyhead and Wrexham remain open.

Though, it is unlikely that the specific stores saved by B&M will be revealed until November 9.

A statement from B&M today (September 5) read: “B&M European Value Retail S.A. confirmed that it has entered into an agreement today with the joint administrators of Wilko Ltd (in administration) to acquire up to 51 properties for the maximum aggregate consideration of £13m.

“The consideration is fully funded from existing cash reserves and the acquisition is not expected to be conditional on any regulatory clearances.

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

Wilko, which has about 400 UK stores, had previously filed a notice of intention to appoint administrators at the High Court after failing to secure a takeover.

PricewaterhouseCoopers (PwC) has been appointed as Wilko’s administrator, assuming all control of the business for the time being.

Wilko’s first redundancies - 269 jobs at its support centre in Worksop and 14 others at a subsidiary firm – were confirmed yesterday (September 4).

When approached by the Pioneer, B&M declined to give any further comment.

PwC and Wilko have also been contacted.