Wilko: Union warns that job losses could be announced on Thursday Wilko Job losses at Wilko could reportedly be announced as soon as Thursday, after an offer to buy the entire 400-strong estate failed to pass “basic checks”, members from the GMB Union have warned. The union representing thousands of Wilko staff has now said that redundancy talks, which were suspended earlier this week, could be restarted. [...]
Poundland and B&M deals for 100 Wilko stores facing collapse due landlord haggling Retail The acquisition of 100 Wilko stores by B&M and Poundland could fall through, as the discount retailers attempt to negotiate more favourable terms with landlords. B&M, which acquired 51 Wilko stores, has been accused of delaying completing deals while it looks to set up new rent and lease arrangements and to renegotiate the terms in [...]
Wilko job cuts ‘likely’ – but 11th hour talks with Poundland owner continue RETAIL Administrators for Wilko today warned that job losses were “likely” as potential buyers were no longer interested in acquiring the whole group. Wilko first called in the administrators three weeks ago after several months looking for investment failed to bring forth any fruit. Sky News reported today that Poundland owner Pepco Group is in advanced [...]
British high street is not dead, minister insists after Wilko collapse September 14, 2023 The British high street is not dead but merely changing, ministers have insisted, after Labour accused the government of “giving up” on retail following the collapse of Wilko. Business minister Kevin Hollinrake insisted high street shopping is “reshaping itself”, as homeware shop the Range confirmed it will buy Wilko’s brand, website and intellectual property after [...]
Wilko may look like Woolies 2.0, but a new buyer should save it from collapse August 11, 2023 Wilco’s collapse into administration put tens of thousands of jobs at risk, but the high street staple should have a future if a buyer sees beyond the hysteria, writes George MacDonald.
Wilko: M2 Capital set to bow out of takeover race after missing bid deadline August 31, 2023 M2 capital has missed a deadline to show it has sufficient funds to snap up Wilko, City A.M. has learned, in a sign that the frontrunner in the race to save the high street chain could be about to bow out. Administrators for Wilko, PwC, had until 09:00 today to submit documentation to prove it [...]
Wilko ‘ran out of cash’. Former boss apologies to staff over collapse of chain November 28, 2023 The former boss of Wilko, Lisa Wilkinson, was pushed to offer an apology to the staff of the now-collapsed high street chain and admitted that she let her employees down.
Wilko: Union calls for former boss to face MPs over £56m pension pot hole September 20, 2023 The union representing Wilko workers called for Lisa Wilkinson to answer questions about a £53m hole in its pension pot.
Wilko: B&M snaps up 51 stores of beleaguered retailer for £13m September 5, 2023 B&M has confirmed that it will buy 51 Wilko stores for £13m following the highstreet stores collapse. The rival discount chain, which has over 700 sites across the UK, did not mention how many job roles would be saved in the process. On the sale, its share price was down more than three per cent [...]
Wilko: High street chain collapsed owing £400m to creditors September 15, 2023 Wilko collapsed with a well over £400m gap in its finances, according to documents published on Companies House, including £157.3m owed to trade creditors. The reports, first published by The Grocer, show that the high street chain owed £411m to unsecured creditors, and a further £25.8m was owed to HMRC. Some of the creditors included [...]