Coalville's branch of Wilko is among 71 stores to be turned into a Poundland store.

Poundland owner Pepco has agreed to buy up to 71 Wilko stores after the high street chain collapsed this week.

PwC, administrators for Wilko, said that Pepco has agreed a deal which will see the stores reopened under the Poundland brand.

However, it is understood that 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 when the shops are opened under the new brand.

Poundland said its new lease agreements are set to be completed in 'early autumn', aiming to open the stores by the end of 2023.

It would mark a return to the Belvoir Shopping Centre for Poundland which announced it was closing its Coalville store last December.

The company said then that it was 'disappointed' to be closing the shop and a spokesperson for Poundland said at the time: "We're as disappointed as our colleagues and customers to be closing our store in the Belvoir Shopping Centre, Coalville in January. Sadly, our lease has expired. 

"Where we close a store, it goes without saying we always work hard to look after colleagues directly affected."  

Administrators had previously struck a deal for fellow discount chain B&M to buy 51 other Wilko stores.

The 71 stores included in the agreement with Pepco and 51 stores included in the agreement with B&M currently employ more than 3,200 Wilko team members in total. 

Poundland's former site in the Belvoir Shopping Centre. Photo: Coalville Nub News

The BBC website reports that Barry Williams, the managing director of Poundland, said the company would work quickly with landlords in the coming weeks to get its new shops open once the administration process is wound up.

He said that the announcement would mark some "positive news for customers and those High Streets that faced the loss of an important retailer."