The future looks bleak for most Wilko stores as thousands of jobs hang in the balance, given the administrators’ inability to secure a buyer for the beleaguered retailer.
PricewaterhouseCoopers administrators announced on Wednesday night that due to the lack of a single buyer for the entire company, there’s a high likelihood of future layoffs and store shutdowns.
Wilko, a family-run enterprise specializing in household and garden items, with a presence of around 400 stores and a workforce of nearly 12,500, had to bring in administrators earlier this month.
Nonetheless, the administrators have given a temporary reprieve, stating that the stores will stay operational for the moment. There aren’t any immediate plans for job cuts or closures as talks with potential buyers for sections of the business are still ongoing.
The administrator trio, Jane Steer, Zelf Hussain, and Edward Williams, commented on the growing anxiety among the staff, acknowledging the added strain this situation brings.
Industry insiders speculate that competitor discount retailers like Poundland, Home Bargains, Primark, and B&M might acquire some of Wilko’s locations. There’s also chatter about property owners possibly reconfiguring some of the store spaces.
Sky News revealed that Poundland might take control of up to 100 stores. Similarly, B&M European Retail, a recognized London-based discount chain, is purportedly discussing the acquisition of around 40 to 50 stores, as per an inside source mentioned by Sky.
