Wilko, the discount homewares retailer, is facing its most crucial few weeks in its 90-year history.
On Thursday, the chain was forced to appoint an administrator after it failed to find a buyer to save the cash-strapped business.
That decision puts 12,500 jobs at risk and means 400 shops could close.
That decision puts 12,500 jobs at risk and means 400 shops could close.
Wilko is a business that ran out of time and money.
No-one was prepared to stump up the £75m or so that was needed straight away to get the chain back on track and pay suppliers to fill its sparse shelves.
“The scale of it was just too huge, without a guarantee of success,” said a source familiar with the situation.
Now the chain is in administration, a potential buyer would not be responsible for any of Wilko’s debts, making a purchase more attractive.
Wilko, the discount homewares retailer, is facing its most crucial few weeks in its 90-year history.
That decision puts 12,500 jobs at risk and means 400 shops could close.
On Thursday, the chain was forced to appoint an administrator after it failed to find a buyer to save the cash-strapped business.
That decision puts 12,500 jobs at risk and means 400 shops could close.
That decision puts 12,500 jobs at risk and means 400 shops could close.
Wilko is a business that ran out of time and money.
No-one was prepared to stump up the £75m or so that was needed straight away to get the chain back on track and pay suppliers to fill its sparse shelves.
“The scale of it was just too huge, without a guarantee of success,” said a source familiar with the situation.
Now the chain is in administration, a potential buyer would not be responsible for any of Wilko’s debts, making a purchase more attractive.
#What039s #Wilko #workers
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