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The Latest Breaking News from PwC

Wilko owed £625m when it collapsed, leaving pension fund £50m short

Retailer’s unsecured creditors, who include suppliers, will recoup less than 8% of what they are owed

The Guardian - UK

Morning Mail: authors fear huge AI copyright ‘theft’, scorching weekend for east, Michael Gambon dies

Richard Flanagan says his soul has been ‘strip mined’ in alleged breach, and the world of showbiz mourns the ‘king-like’ Dumbledore actor

The Guardian - AU

PwC tax leak scandal not isolated to Australia, senators claim

Accounting firm says no evidence confidential information used by partners outside Australia for commercial gain

The Guardian - AU

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Beyond the PwC scandal, there’s a growing case for a royal commission into Australia’s ruthless corporate greed

Accounting and consulting group PwC has been front page news ever since its chief executive Tim Seymour stepped down “effectively immediately” in May, when the firm said it had “betrayed the trust” of Australians and promised an independent review of its governance, accountability and culture.

The Conversation

PwC Australia reveals more breaches on heels of scathing report into consultancy scandal

Firm releases ‘statement of facts’ alongside Switkowski review making further admissions about government consultation work

The Guardian - AU

These former Wilko stores will reopen as Poundland shops this weekend

Poundland owner Pepco agreed earlier this month to buy up to 71 Wilko stores from administrator PwC following the collapse of the high street chain

The Independent UK

'Whatever it takes': PwC's poor behaviour laid bare

A scathing review into PwC following a tax advice scandal found the firm overlooked poor behaviour and took a "whatever it takes" approach to business.

AAP

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PwC’s ‘rainmaker’ partners often pursue profits ahead of ethics, scathing review finds

Internal review led by former Telstra boss Ziggy Switkowski finds ‘whatever it takes’ culture at accounting firm contributed to serious ethical failure

The Guardian - AU

PwC to restructure board as report into consultancy scandal released

PwC Australia will also commit to publishing audited financial statements

The Guardian - AU

Crackdown on dodgy tax advisors after PwC scandal

Treasurer Jim Chalmers has released draft legislation aimed at cracking down on dodgy tax advisors and giving the regulator more powers to hunt down renegades.

AAP

Stiffer penalties and increased ATO powers spearhead Labor’s tax overhaul

Treasurer Jim Chalmers to take aim at ‘blatant misconduct in our tax advice industry’ after PwC scandal

The Guardian - AU

The Range buys Wilko meaning name will not disappear from UK high streets

The Range confirmed it will sell Wilko products “in-store”

The Independent UK

The Range buys Wilko brand in multimillion-pound deal

The homeware retail brand has also bought the intellectual property rights of Wilko, but none of its stores

The Guardian - UK

The Range set to buy Wilko brand in £5m deal

Administrators at PwC have sought to sell off Wilko’s assets in recent weeks, including its brand and shops, after failing to secure a rescue deal.

Evening Standard

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The Guardian - UK

Poundland moves to buy 71 Wilko sites with possible jobs guarantee for staff

PwC says owner plans to reopen stores under Poundland brand throwing lifeline to as many as 1,800 staff

The National (Scotland)

Pepco to take over up to 71 Wilko stores and make them Poundland shops- Full list

Pepco has agreed with Wilko's administrators that up to 71 Wilko stores will become Poundland shops.

The Conversation

Wilko: what insolvency really means for the budget retailer and why its competitors are surviving (for now)

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.

The Independent UK

What happened to Wilko and when will the last shops shut?

The closure of the firm’s remaining 400 stores and the loss of 9,100 staff was confirmed by administrators PwC on Monday

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Evening Standard

All Wilko shops to close with 9,100 job losses

PwC said that it had tried but failed to find someone to save part of the business

The National (Scotland)

All Wilko shops to close with over 9000 job losses as rescue deal collapses

Another 9100 people who work for failed retailer Wilko will be made redundant, administrators confirmed on Monday after talks to save hundreds of…

The Independent UK

All 400 Wilko stores to close by early October, says union

It means redundancies now look likely for all 12,500 staff at the historic high street chain.

The National (Scotland)

Full list of Wilko stores as GMB union says all will close early next month

GMB Union has said all 408 UK Wilko stores will close by next month resulting in more than 12,500 job losses after a rescue bid from HMV's Doug…

The Independent UK

Thousands of jobs at risk after HMV owner’s Wilko rescue bid collapses

Administrators for the high street chain had been in discussions with Doug Putman over a deal to buy around 200 Wilko shops

The Independent UK

Wilko rescue hopes fade as talks with HMV owner collapse

Administrators for the high street chain had been in discussions with Doug Putman over a deal to buy around 200 Wilko shops.

The Guardian - UK

All 400 Wilko shops to close with loss of more than 12,000 jobs

Talks with HMV owner Doug Putman to save about half of retailer’s stores fail

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