Wilko administation 2023: Retailer collapses into administration putting 12,000 jobs at risk

Watch more of our videos on ShotsTV.com 
and on Freeview 262 or Freely 565
Visit Shots! now

This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.

Wilko has collapsed into administration putting 12,000 jobs at risk

High street chain Wilko has appointed administrators after failing to secure a rescue deal, putting about 12,000 jobs at risk. The privately-owned firm, which sells everything from stationery to hardware items announced that it had filed notice of its intention to appoint administrators at the High Court last week.

The retailer, which has been on British highstreets since 1930 has been unable to find emergency investment to save its 400 shops across the UK. The firm’s boss, Mark Jackson, said management had “left no stone unturned” in its attempts to save the business.

Hide Ad
Hide Ad

“But must concede that with regret, we’ve no choice but to take the difficult decision to enter into administration,” he said.

Last week, Wilko chief executive officer Mark Jackson said: “While we can confirm we’ve had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present, we don’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.”

Troubled high street retailer Wilko has suspended home deliveries as it races for a rescue deal to avoid collapse. (Photo supplied by Wilko/Shutterstock)Troubled high street retailer Wilko has suspended home deliveries as it races for a rescue deal to avoid collapse. (Photo supplied by Wilko/Shutterstock)
Troubled high street retailer Wilko has suspended home deliveries as it races for a rescue deal to avoid collapse. (Photo supplied by Wilko/Shutterstock)

The Times reported that any buyer would have needed to pump in £25m to £ 30m to get supplies moving into Wilkos shops again, and an additional £40m is needed to pay off onerous debt owed to Hilco.

Comment Guidelines

National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.

News you can trust since 1877
Follow us
©National World Publishing Ltd. All rights reserved.Cookie SettingsTerms and ConditionsPrivacy notice