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Poundland owner Pepco has agreed to buy up to 71 Wilko stores – including three in Derbyshire - following the collapse of the high street chain.

PwC, administrators for Wilko, said Pepco has sealed a deal which will see the stores reopened under the Poundland brand, after the administration trading period concludes at those sites.

Edward Williams, joint administrator, 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.”

Stores include the Alfreton, Matlock and Ripley branches.

Poundland owner Pepco has agreed to purchase 71 Wilko stores, including the Matlock branch, following the collapse of the high street chain.

According to the GMB Union - which represents more than 3,000 Wilko staff - all 400 Wilko stores across the UK are set to close by early October.

Administrators at PwC have confirmed that 124 stores will shut between Sunday (September 17) and Thursday (September 21).

Workers at the stores will not be transferred directly as part of the move, but Poundland has said it will “prioritise” existing Wilko workers for roles.

Poundland owner Pepco to buy up three Derbyshire Wilko stores