Wilko will sell 51 of its stores to a rival bargain retailer, it has today (September 5) been announced.

B&M confirmed it will spend £13 million on the new sites, but has not announced which stores will be saved.

The news leaves the future of Wilko's remaining 350 shops in the balance after the company fell into administration in August.

B&M said details of the new store openings will be confirmed at the start of November.

The news comes just days after administrators at PricewaterhouseCoopers (PwC) confirmed staff would be laid off at Wilko's support and distribution centres in Worksop and Newport.

PwC was keen to stress that stores across the UK - including on High Street in Stamford - remain open.

Administrators said last week "multiple varied bids" and expressions of interest have been put forward, and it remains in discussion with potential buyers.

However, a statement admitted: "It is now clear that no viable offer structure put forward includes the group in its entirety."

Last week Andy Prendergast, GMB National Secretary, said: "GMB Union will continue to support our members through this process and will fight to ensure they are consulted as per the law and receive every penny they are entitled to.

"We will fight to ensure people are held accountable for this situation for the simple reason our members deserve so much better.

"GMB will not forget the incompetence that has led to this collapse and will we not forget the dividends paid to the millionaires who gambled workers jobs on their whims. "