Wilko Administration Update: More Store Closures and Job Losses Expected
Administrators overseeing the fate of the UK-based homeware retailer Wilko have announced further staff reductions and store closures, in addition to the 1,300 job cuts that have already taken place. PricewaterhouseCoopers (PwC) revealed this development, stating that over 50 stores are scheduled to close nationwide in the coming week. Meanwhile, discussions with potential buyers interested in acquiring parts of the business are ongoing.
Just a month ago, discount retailer B&M revealed plans to purchase 51 Wilko stores for up to £13 million, shortly after Wilko entered administration. The future of Wilko, which operates 400 stores and employs 12,500 people, remains uncertain.
Canadian entrepreneur Doug Putman was initially in talks to acquire a majority of Wilko’s stores—possibly up to 300—from the administrators, but recent indications suggest that this may have been scaled back to a smaller number.
As the situation continues to evolve, the fate of Wilko and its employees remains uncertain amid ongoing rescue talks and negotiations.
