Wilko hope still alive as collapsed high street chain receives SEVERAL rescue bids
THERE is still hope for Wilko after the collapsed high street chain received several rescue bids.
Insiders told The Sun that offers were made yesterday evening and they are currently being worked through.
It comes after the deadline for indicative bids to save the chain passed yesterday, but sources confirmed that offers would still be considered after the fact.
At the moment, administrator PwC is yet to confirm how many bids have been submitted to rescue Wilko.
Sources said that the bids would take a while process, and that an announcement isn’t expected to take place this week.
The administrators had given potential buyers until 5pm yesterday to make any indicative offers.
Wilko collapsed into administration last week after failing to find new backing for the business.
It puts the chain’s 400 stores at risk of closing and around 12,500 jobs on the line.
The Sun previously reported that several potential buyers have shown an interest in Wilko’s business, and one could save as many as 300 branches from closing down and would preserve the most jobs.
But it is understood that early expressions of interest were mixed, and the majority of offers are for between 40 to 50 stores.
Discount retailers B&M, The Range, Poundland and Home Bargains have all expressed an interest, according to sources – but they would have needed to officially throw their hats in the ring today.
The Sun understands one of the potential bidders would be keen to keep the Wilko name.
But even if a buyer is found, the insolvency process means that a buyer can pick and choose the parts of a business it wants.
This means that both the stores and the brand could be saved.
Or it may choose to buy no stores at all and instead buy up the remaining stock or brand name only.
Sources cautioned that no deal was guaranteed.
Sources at both Next and Poundstretcher previously told The Sun that they had no interest in rescuing Wilko.
It comes as shoppers have been sharing their emotional tributes to the discounter, with many comparing it to the loss of Woolworths.
Others were also looking forward to extra bargains ahead of Wilko launching an administration sale this week.
Chief executive officer, Mark Jackson, said last week that the company had “left no stone unturned” in a bid to save the chain.
In an emotional open letter to all staff and heartbroken shoppers, Mr Jackson thanked them for their support.
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