The Latest Breaking News from Wilko

Brief letters: Donovan’s Sunny Goodge Street | Seeds for success | Ethical savings | Wilko workers

Rescue bid could keep entire Wilko chain trading after it collapsing into administration

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

The GMB Union, which represents more than 3,000 Wilko staff, said a rescue purchase out of administration “fell through”

Wilko has ended all online sales after it entered administration and shoppers can only buy in stores

Shoppers warned to be careful with sales as collapsed budget chain only selling goods in its stores

From chip shops to tech start-ups, and even large, well-established companies, rising interest rates have had an impact right across the business world. After 14 consecutive base rate hikes by the Bank of England since 2021, this is causing particular problems for companies with a lot of debt.

Administrators try to secure rescue deal for retailer, with talks expected to go on well into next week

Collapsed budget retailer’s 12,500 workers wait to hear whether buyer has emerged