Wilko to file for administration putting 12,000 jobs at risk
The Mirror says Household and garden retailer Wilko has filed a Notice of Intention (NOI) to appoint administrators potentially putting 12,000 jobs and 400 stores at risk.
The news comes as Wilko’s owners were reported to be exploring the sale of a controlling stake just last month.
In a statement from CEO Mark Jackson today, the chain confirmed that the retailer was struggling to find a buyer which provided the “necessary liquidity” in the time it has available “given the mounting cash pressures” it was facing. He added that the retailer, which has been a staple of the British high street for over 90 years, had no other choice.
In his statement, Mark Jackson said: “While we can confirm we’ve had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present. Unfortunately, with this in mind, today we’re having to take the difficult decision to file a NOI.”
https://www.mirror.co.uk/money/breaking-wilko-file-administration-putting-30619671