Mark Kleinman: The inquest into Wilko’s demise has only just begun opinion Mark Kleinman is City editor at Sky News Inquest into Wilko’s demise has only just begun Few things elicit British consumers’ sentimentality like the imminent disappearance of a once-proud high street name. For Woolworths in 2009 and BHS in 2016, read Wilko in 2023. The sad fate of more than 10,000 employees at the family-owned [...]
Mark Kleinman: Wilko’s demise, the FTSE chair merry-go-round and Bink’s breakup with Barclays MARK KLEINMAN Mark Kleinman gets the Square Mile talking in his weekly column for City A.M.
Who are the frontrunners in the race to save Wilko? Wilko Why did Wilko go bust? A cocktail of dwindling demand for physical stores and competition in the discount market appeared to tip Wilko into administration. Even when a squeeze on public finances forced shoppers back to the high street in search of cheaper goods, they seemed to favour rivals B&M and Poundland when nabbing a [...]
The Pensions Regulator investigates Wilko family dividends September 24, 2023 The Pensions Regulator is scrutinising the dividends withdrawn from Wilko as part of an inquiry into the high street discount chain’s downfall. The chain collapsed in August, putting over 12,000 jobs at risk, and now family shareholders are facing pressures to fill a £56m deficit in its pension fund, the Sunday Times has reported. It [...]
Analysis: Wilko collapse is the Woolworths of this financial crisis August 10, 2023 The collapse of Woolworths was described as “the first domino of physical retail Armageddon.” Although it might not justify that epithet, the collapse of Wilko shows which way the wind is now blowing.
Wilko shuts first stores today as administration unfolds September 12, 2023 Wilko will shut its first group of shops on Tuesday as the dramatic collapse of the high street chain takes shape. The historic retailer will shut 24 stores across the UK in the first phase of closures, with hundreds of workers at the shops set for redundancy. It comes a day after administrators confirmed all [...]
Wilko on brink of collapse with 12,000 jobs at risk August 3, 2023 Troubled homeware and garden retailer Wilko reportedly intends to call in administrators, placing 12,000 jobs at risk. The high street chain has filed its notice to appoint administrators at the High Court, Bloomeberg first reported, after it spent the summer hunting for a rescue deal. Wilko, which has 400 sites across the UK, has struggled [...]
Wilko bosses to be questioned by MPs following company’s collapse November 23, 2023 The bosses of Wilko will appear before MPs next week to explain the shortfall in the company’s pension fund and why its owners were taking money out of the debt-laden company. MPs on the Business and Trade Committee said they would question the company’s former chief executive and chairwoman as well as representatives from its auditor EY. [...]
Wilko to shut final shops for good after dramatic collapse October 7, 2023 Wilko is set to shut the doors of its last high street shops for the final time as the collapse of the 93-year-old retailer comes to a close.
Wilko brand set to be bought by The Range as carve up continues September 13, 2023 The Range is poised to buy the brand and intellectual property of Wilko, as the collapsed high street store continues to be carved up by competitors.