First Wilko shop closures begin after rescue fails

Tuesday will see the first Wilko shop closures after the collapsed retail chain failed to find a buyer. 

The first 24 shops – including ones in Liverpool, Cardiff, Acton and Falmouth will close on Tuesday, and a further 28 will close on Thursday. 

All of Wilko’s 400 shops will close by October. Around 12,500 staff will lose their jobs. 

Wilko fell into administration in August after struggling with competition from other discount chains and losses. 

Rising costs complicated a deal with Doug Putman – the billionaire owner of HMV, who wanted to buy at least 100 shops. 

On Monday, administrators PwC said that “despite extensive efforts” it had become clear that “no significant part of the Wilko operations can be rescued”.

Rival discount shop B&M has agreed to buy 51 of Wilko’s buildings in a £13m deal, but it is understood the stores will not be run under the Wilko brand.

Similarly, Poundland is understood to be interested in buying up to 70 Wilko stores and rebranding them to boost its own portfolio.