All Wilko stores to close and disappear from high street for good within weeks after deal to save retailer collapses
WILKO is set to disappear from the high street for good within weeks after a deal to save the retailer collapsed.
All of Wilko’s 400 stores across the UK are set to close by the start of October, a source has told The Sun.
This means that redundancy is now likely for all 12,500 Wilko workers.
The Sun exclusively revealed that talks between the retailer’s administrators and HMV owner Doug Putman have failed.
It brought to an end hopes that 200 stores would be saved and continue trading on the high street under the Wilko name.
The Range is interested in taking on the Wilko name, but a deal would not include any shop locations, it’s understood.
Meanwhile, Poundland is thrashing out a deal to take on around 70 locations, sources say, with details still being finalised.
It comes after administrators at PwC announced the first 52 store closures would take place tomorrow and Thursday.
They also confirmed the latest round of redundancies would see a further 1,332 of the 12,500 jobs cut.
Nadine Houghton, GMB national officer, said: “Wilko was far more than a brand, a retailer or the products it sold, it was the thousands of loyal team members now facing an uncertain future.
“Wilko may have ceased genuinely being a family brand many years ago, but the staff kept the real family ethos of wilko alive until the very end.
“It is the family that wilko colleagues made for themselves that will be missed the most. “
In a boost for customers, a major Wilko rival has saved up to 51 stores in a £13million deal.
So far it has not been revealed which of the 400 stores have been bought by B&M.
The retailer’s deal doesn’t include the staff currently working in these stores and it’s thought that the shops will likely close before being rebranded as B&M.
The discount chain said more information on the new store openings will be issued alongside its half-year financial results on November 9.
The first wave of job cuts took place early last week week, with a total of 269 support centre team member roles being axed in its Worksop site.
A further 14 jobs at Kin Limited, a subsidiary of Wilko, have also been cut after it too fell into administration.
Insiders previously expressed frustration that a rescue of Wilko had been delayed by the eleventh-hour intervention by M2 Capital, which has since been accused of time-wasting.
Administrators had given the firm a strict deadline to provide evidence that it has proof of funds to complete the full rescue of Wilko.
PwC then refused to grant M2 extra time after grave doubts about its credibility.
It marked the second time a deadline for Wilko buyers had passed, three weeks after the retailer went bust.
The Sun previously reported that several potential buyers had shown an interest in Wilko’s business.
Wilko collapsed into administration back in August after failing to find new backing for the business.
Shoppers took to social media to share their emotional tributes to Wilko when it first entered administration, with many comparing it to the loss of Woolworths.
Others were also looking forward to extra bargains ahead of Wilko launching an administration sale which has seen discounts of up to 50% on a range of items.
Chief executive officer, Mark Jackson, said 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.
Meanwhile, we have put together a full list of Wilko sites which have been signposted for closure.
To keep up to date with the latest on Wilko follow our live blog.
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