Wilko is a British high street retail chain selling homewares and household goods. From decorating and DIY to pet food to children’s toys to hair and beauty, the beloved store has a lot to offer.
However, it has been announced that Wilko has gone into administration, which means financial restructuring plans will be put in place to rescue the company where possible.
This is also a “breathing space” that frees a company from creditor enforcement actions, reported GOV.UK.
GOV.UK informed the public with a message from The Insolvency Service: “The Insolvency Service has confirmed that administrators were appointed to Wilko Limited, Wilko.com Limited, and Wilkinson Hardware Stores Limited. On August 23, 2023, administrators were also appointed over Kin Limited.
“At present, Wilko retail shops and offices will not be closed immediately. The administrators are closing sites as and when required.
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“This will be a hugely worrying time for employees of Wilko, as well as their customers and suppliers. Government will do all it can to support them.
“If you are an employee, customer or supplier of Wilko, this page will provide you with the advice and information.”
It has already been announced that several Wilko stores will shut down, with Time Out confirming a list of 14. However, they do not yet have official closing dates.
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Wilko stores closing down
- Bournemouth
- Stockton
- The Fort, Birmingham
- Shipley
- Scunthorpe
- Narborough Road, Leicester
- Grantham
- Redditch
- Rotherham
- Skegness
- Llanelli
- Merthyr Tydfil
- Cleethorpes
- Woolwich
Wilko’s chief executive Mark Jackson said as part of an open letter: “We left no stone unturned when it came to preserving this incredible business but must concede that, with regret, we’ve no choice but to take the difficult decision to enter into administration.
“We’ve all fought hard to keep this incredible business intact but must concede that time has run out and now, we must do what’s best to preserve as many jobs as possible, for as long as is possible, by working with our appointed administrators.”
As for a rescue deal, Time Out said: “Bids were still being considered this week and one bidder, M2 Capital, was apparently given a deadline of 5pm yesterday (August 30) to give administrators PwC more info about its bid.”
Loyal Wilko customers are devastated by the news it has gone into administration. @joelgolby tweeted: “What is the point of living in a country without Wilko? If Wilko goes then we just need to disassemble the failed ‘United Kingdom’ project and start again. Thousands of years of society and this is what we’ve built, a wilkoless country with a few asset millionaires.”
@ifetalksback tweeted: “Just fell to my knees. Wilko is one of the only useful shops still on the high street. So when I need to get random bits, where am I meant to go? The Desert? The Ocean? The bottom of a sink hole?”
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