Retail chain ‘in pole position’ to take over Wilko brand and online business if tycoon’s last-gasp rescue falls through
A MAJOR retailer is in “pole position” to take over Wilko – which could see 200 shops and 4,000 jobs saved.
The billionaire owner of HMV is furiously reaching out to investors and debt providers in a desperate bid to rescue the budget chain.
As reported by Sky News, Doug Putman has been in financial talks with the firms from which he originally bought HMV six years ago.
He is hoping to raise enough funds to save hundreds of Wilko stores and thousands of jobs.
Putman’s offer is said to involve keeping about half the discount retailer’s 400 shops and 3,000 to 4,000 of its 12,500 workers.
The hopeful bidder also wishes to continue running the company under the well-known Wilko name.
The Canadian billionaire previously rescued HMV out of administration in February 2019.
It saw over 100 stores and 1,500 jobs saved.
However, while discussions are still very much in play with PwC, sources have claimed Putman’s takeover is “unlikely”.
It is predicted a conclusion will be reached by the start of next week about Wilko’s future.
Should the HMV owner fail to secure a deal, the budget brand will be divided between several companies.
It is understood 150 stores will be handed over to other popular bargain stores Poundland and B&M.
Administrators are still considering other offers.
This comes as Wilko has launched huge new sales with up to 50 per cent off essentials.
The sale will see massive reductions on hundreds of new items, including kids games and seasonal summer products.
Meanwhile Martin Lewis’ Money Saving Expert has issued an urgent warning to shoppers over new Wilko scam which could cost you £1,000s.
Money Saving Expert pros have urged Brits to be vigilant when making purchases online after the budget store went into administration.
Bargain hunters have recently fallen victim to fraud recently as scammers take advantage of the sales.