Wilko - Over and Out?

Posted on Aug 10, 2023. by NTI

Neil trudged into the newsroom this morning looking far less positive and enthusiastic than he ordinarily does.

"What's up with you this morning?" Tracee asked.

"I'm gutted..." Neil said, "I was all set to treat myself to a new mop, some Soapy Wood Cleaner, and a bag of peat-free compost, as well as stocking up on left-handed rubber gloves, and now I can't."

"Eh?" said Tracee, who went back to doomscrolling through TikTok after rolling her eyes.


It turns out Neil was upset because his favourite homeware retailer is apparently due to appoint Administrators today (Thursday).

This may be of little surprise, given the Notice of Intention to Appoint Administrators filed last week, but it means that around 12,000 jobs are potentially at risk.

Hopes of a potential rescue deal have faded, given that they would have had to inject some £70m (that's a lot of cleaning products and washing-up bowls). Earlier this week, Gordon Brothers, Alteri Investors and Opcapita had been examining offers for the company, but it seems no offers have yet been forthcoming.

PwC are due to be appointed as Administrators, who will themselves attempt to rescue the business.

Wilko has been owned by the Wilkinson family since the 1930s when it was established (the clue's in the name) and would be one of the biggest retail casualties for a number of years. The chain has 400 stores, and has faced stiff competition from competitors B&M and Home Bargains.

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