Wilko has completed a sale and leaseback of one of its distribution centres to logistics firm DHL, as the household and garden retailer attempts to balance the books after a challenging trading period.
Partnering with DHL, for the next 15-years, has enabled Wilko to keep daily operations at the distribution centre in Worksop, Nottinghamshire, unchanged while unlocking £48m.
The discount retailer will use these funds to improve its omni-channel offering and customer experience across its 402 stores and online.
“It’s standard business practice to constantly review how we manage our finances. This property deal with DHL represents long-term stability for us and our team members and is the right response to the current market conditions and our priorities,” explained Jerome Saint-Marc, chief executive, Wilko.
“We’re making smart choices to trade a business and allow us to continue to invest in our long-term transformational strategy.
“Wilko remains family owned and continues to focus on helping hard working families to be the best that they can be, delivering great value products to our customers.”