Value retailer The Range has acquired digital assets of collapsed retailer Wilko in a deal understood to be for around £5m.

Administrators PwC confirmed the deal where it has entered into an agreement for The Range to acquire the wilko Brand, Website and Intellectual Property.

After a short period of transition, it is expected that online operations will recommence as the administration store trading programme concludes in early October.

As part of the deal, which is, according to reports, estimated to be for a sum of £5m, 36 employees from wilko’s digital team have transferred over to The Range.

Jane Steer, joint administrator, said: “Since our appointment, the feedback from customers and wider stakeholders during this challenging period has reinforced the fact that wilko remains a much loved and trusted brand within the UK. This sale to The Range will ensure that the wilko name lives on under their ownership and we wish The Range every success.”

The acquisition follows Poundland owner PepCo securing 71 Wilko stores and B&M acquiring up 51 in a similar deal.