The Latest Breaking News from BM

PwC warns of more job losses if last-ditch talks to save stricken retailer fall through

ADMINISTRATORS for Wilko have revealed the locations of 52 stores which will close as early as next week resulting in more than 1000 job losses.

Poundland, Home Bargains and The Range also in talks to snap up some of stricken retailer’s outlets

The shops are likely to be rebranded as new B&M stores, as the FTSE 100 retailer did not purchase the Wilko brand name

Its next director is going to have to implement radical culture change if the institution is to remain fit for purpose in the 21st century

UK retailer, which has about 400 shops, likely to shut some branches ‘in near future’ after no buyer found

Administrator PwC understood to have brought deadline forward as retailer risks running out of money

By selling pick ‘n’ mix, stationery, garden tools and bird boxes, Wilko has spent the last 90 years transforming from a one-store business into one of the UK’s major budget retail players. It now has around 400 stores, but it has also become the latest high street shop to face…

Analysts partly blame too many large stores selling low-profit goods on dearer high street locations

City Comment: No brand, however charming and loved, is guaranteed eternal life

Decant with caution