The majority of Wilko’s circa 400 UK stores are likely to close after administrators failed to find a buyer for the ailing business.
In an update issued last night (23 August), Jane Steer, Zelf Hussain and Edward Williams of PwC, joint administrators of Wilkinson Hardware Stores, Wilko and Wilko.com, said: “Since our appointment as administrators of Wilko we have held extensive discussions with parties who expressed an interest in buying all or part of the business.
“While discussions continue with those interested in buying parts of the business, it’s clear that the nature of this interest is not focused on the whole group. Sadly, it is therefore likely that there will be redundancies and store closures in the future and it has today been necessary to update employee representatives.”
In a statement, the GMB Union, whose representatives met with the administrators yesterday, said “the majority of Wilko stores are to close within weeks” and the administrators had said there was “no longer any prospect that the majority of the business will be saved”.
The union added some stores might be bought, either individually or as part of larger packages, but “significant” job losses are now expected.
Andy Prendergast, GMB national secretary, said: “GMB Union will continue to support our members through this process and will fight to ensure they are consulted as per the law and receive every penny they are entitled to. We will fight to ensure people are held accountable for this situation for the simple reason our members deserve so much better. GMB will not forget the incompetence that has led to this collapse and will we not forget the dividends paid to the millionaires who gambled workers jobs on their whims.”
The joint administrators said in the immediate term all stores remain open and will continue to trade and “contrary to speculation, there are currently no plans to close any stores next week”.
