The FTSE 100 dropped by 0.5% as investors responded to news of British insurer Aviva’s £3.6 billion acquisition of Direct Line. Retailer B&M led the index with a 2.7% gain,
GMB Union Attributes Wilko’s Collapse to ‘Ineffective Leadership’
The Business Select Committee has initiated its inquiry into the downfall of Wilko, which resulted in the termination of 12,500 jobs in early September.
B&M agrees to buy up to 51 Wilko stores for £13m
Discount store B&M has confirmed the purchase of a selection of Wilko branches as the high street giant undergoes restructuring.
Monday marks the first day of job cuts at Wilko
Wilko is set to initiate the first wave of what could be numerous layoffs today, even as prospects for a partial business rescue continue.
Poundland and B&M are poised to acquire select Wilko stores, but the majority are at risk of shutting down.
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.
Share Talk Expected Market Updates For The Week Ahead, 30th May – 2nd June 2023
Updates are expected from companies including Bloomsbury, the publisher of Harry Potter, value retail chain B&M, Dr Martens, a specialized shoe company, and used car behemoth Auto Trader.