The owner of Poundland in the UK, Pepco Group, has announced that it will take over 71 Wilko stores and change them to the Poundland brand. This will create hundreds of new jobs for the retail sector and give priority to Wilko staff who want to work at the new Poundland shops.

However, not all Wilko workers will be so lucky. Starting from today, hundreds of them will lose their jobs as the talks with Doug Putman, the owner of HMV, have collapsed. Wilko had around 12,500 employees in total.

Wilko to vanish from high street as rescue bid fails