All 400 of Wilko’s shops are now expected to close over the next month, leaving 12,500 people without jobs across the UK. The budget retailer’s administrator PwC announced the news after it struggled to secure a rescue deal for Wilko to continue operating.
After swooping in to rescue collapsed music chain HMV in 2019, Canadian businessman Doug Putman had hoped to do the same for Wilko. But his plan to rescue the company as a going concern – a business that will continue to operate and meet its financial obligations – was “hampered by the costs and difficulties thrown up by the need to overhaul Wilko’s supply chains”, according to news reports.
