WILKO shoppers have been left devastated after the beloved high street chain collapsed into administration.
The budget retailer has failed to secure a rescue deal, putting around 12,000 jobs at risk, it was announced today.
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Wilko shoppers have been left devastated after the chain went bustCredit: Alamy
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Wilko boss Mark Jackson said the company left ‘no stone unturned’ in attempts to keep the chain runningCredit: Wilkinsons
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Wilko said ‘it’s been an honour’ to serve its customersCredit: Wilkinsons
The chain, which runs more than 400 stores across the UK, told staff and shoppers it has hired administrators to oversee the process, and the shops will stay open for now – with staff continuing to be paid.
We’ve a full list of all Wilko stores at risk of closing.
In an emotional statement, Wilko boss Mark Jackson said he had “left no stone unturned” in trying to save the chain from collapsing.
He recalled how the discount chain grew from one shop to more than 400, while acknowledging the hardship the company had undergone in the past six months.
Mr Jackson wrote: “We’ve all fought hard to keep this incredible business intact but must concede that time has run out.”
He added that the company is working to preserve “as many jobs as possible” by working with administrators.
Devastated shoppers have flooded social media with their equally heartfelt messages for the struggling retailer.
One person said on X, formerly known as Twitter: “Tears in my eyes man, if we can’t go to Wilko, where can we go??”
While another added: “Wilko shutting down is actually the most devastating thing to happen this year.”
And a third wrote: “Goodbye Wilko, all the best. Was a pleasure to have known you.”
Other social media users likened the news to huge high street losses like Debenhams and Woolworths.
Taking on X, one shopper said: “This hits home, Debenhams now gone? Now Wilko, which will be next?”
Plus another said: “A real shame. Bring back Woolworths!”
Another user echoed this, writing: “It’s like Woolworths all over again.”
Debenhams shut its doors for the final time in its 234-year history in 2021.
The department store collapsed amid the fallout of the coronavirus pandemic after suffering slumping sales in the years previous.
The company then started its liquidation process at the start of 2021 after failing to secure a rescue sale.
While Woolworths fell into administration 15-years ago and all 800 of the retailer’s stores closed as a result.
The retailer, famous for its sweet pick-n-mix selection, was a high street stalwart and sold a variety of products from kitchen supplies to gardening equipment to clothing.
But Woolworths faced spiralling losses as online retail grew and the firm faced difficulties with its suppliers.
What happened with Wilko?
Wilko’s board has now appointed PricewaterhouseCoopers (PwC) as administrator after talks with a number of potential rescuers stalled.
All control of the business has now been passed on to PwC.
It comes a week after the bargain retailer filed a notice of intent to appoint administrators.
It was reported earlier this week that the retailer was in talks with the firm behind Laura Ashley – but hopes of a rescue deal have failed.
The brand was also said to be in talks with several other buyers.
Wilko shops continue to trade as normal but the chain stopped processing online deliveries yesterday.
Shoppers are now only given the option to use click and collect services when visiting the retailer’s website.
It comes after the company filed for a notice of intent to appoint administrators last week on August 3.
This meant that Wilko had a maximum of 10 days to secure a deal while being protected from action by other creditors.
As it’s failed to research a deal, PwC will now look to find a buyer for all or parts of the business.
It’s not clear yet if any deal would include high street stores as this will depend on the buyer – if they find one.
Bosses were said to be exploring the sale of a controlling stake in the company just last month.
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Source: newstars.edu.vn