What challenges did our client have?
We needed to identifying and agreeing deals on a high number of stores within the strict timescales imposed by the Administrator.
How did Cited solve the challenge?
Working closely with the acquisitions team at Poundland, Cited reviewed the entire Wilko portfolio, identifying key target locations, where Poundland had no representation whilst also targeting locations where the existing store was off pitch or too small for the ever-changing store requirements. This process resulted in Poundland taking options on from the administrator, Cited acted for Poundland in agreeing assignments of the majority of these stores, negotiating variations where necessary to secure the sites. This meant Poundland were able to re brand/re open these stores under the Poundland fascia.
What was the result for the client?
The result is the additional store openings of 30+ former Wilko units, all of which transacted in a very quick and efficient manner and adding stores to Poundland’s growing portfolio in key strategic locations throughout the UK, satisfying numerous requirements.
