A deal has been struck for the owners of Poundland to take over the leases of up to 71 Wilko stores.
The Pepco Group will rebrand the branches under the Poundland name, administrators PwC said.
In a statement, Poundland said it would give priority to Wilko workers when hiring new staff for the stores.
While the deal includes “up to” 71 Wilko shops, a spokesman said the final total would depend on talks with the landlords of each site to agree lease terms.
It comes after a rescue deal involving the owner of HMV collapsed earlier this week, seemingly dashing hopes that all of Wilko’s 400 branches could be saved.
PwC also warned on Monday evening that 9,100 Wilko employees were set to be made redundant by early October.
Fellow discount retailer B&M has already signed a deal to snap up 51 Wilko stores.
The 122 stores included in the agreements with Pepco and B&M employ more than 3,200 staff in total. The branches acquired by B&M are subject to a confidentiality agreement, the administrators said.
It comes after Wilko – owned by the founding Wilkinson family for decades – collapsed into administration last month.
Joint administrator Edward Williams said: “Alongside the previously announced agreement with B&M, we’re confident this sale will create a platform for future employment opportunities for people including current Wilko team members at up to 122 locations.
“We will continue to engage with other retailers around any interest in other Wilko sites and are confident of completing a sale of the brand and intellectual property within the coming days.”
Poundland managing director Barry Williams said: “In the coming weeks we will work quickly with landlords so we can open these stores as Poundlands with the new ranges that have been pivotal to our recent development.
“And once that process is complete, we will ensure a significant number of the Wilko colleagues will join our Poundland team.”
He added: “The Wilko stores will accelerate our existing transformation programme, offering amazing value for consumers, providing growth opportunities for suppliers and supporting employment in the high streets, shopping centres and retail parks customers love.”
PwC said the 71 stores in the deal with Pepco include the following branches:
Aberdare
Alfreton
Alnwick
Altrincham
Ammanford
Ashby
Barking
Bedminster
Beeston
Bicester
Bishop Stortford
Bletchley
Bolton
Brentwood
Brigg
Cambridge
Chepstow
Coalville
Cramlington
Droitwich
Eccles
Edmonton Green
Ellesmere Port
Ferndown
Gateshead
Grays
Greenock
Grimsby
Havant
Hayes
Headingley
Hessle Road – Hull
Hillsborough
Hitchin
Jarrow
Killingworth
Kimberley
Lee Circle
Leek
Leigh
Lichfield
Maidenhead
Matlock
Melton Mowbray
Nelson
Northallerton
Orton
Pembroke Dock
Peterlee
Pontefract
Pontypool
Redhill
Redruth
Ripley
Rugeley
Sale
Seaham
Selly Oak
Shrewsbury Darwin Centre
South Shields
Southport
Stafford
Stamford
Stockport
Thornaby
Wellington
Wembley
West Ealing
Wombwell
Worcester
Worksop
