Wilko files for administration, putting 12,000 jobs at risk

ITV News' Shehab Khan reports live from outside Wilko as over 12,000 jobs are at risk

Wilko has said it plans to appoint administrators, putting about 12,000 jobs at the high street retailer at risk.

The boss of the homeware and hardware chain said it is expected to enter insolvency after failing to secure a takeover to help the business with “mounting cash pressures”.

Wilko, a Nottinghamshire-based firm which has its headquarters in Worksop and has about 400 shops across the UK, filed a notice of intention to appoint administrators at the High Court on Thursday.

Wilko chief executive 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 we don’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.

“Unfortunately, with this in mind, today we’re having to take the difficult decision to file a notice of intention.

“We’ll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business and will encourage those interested parties we’re in discussions with to move as fast as possible.

“We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.”

Andy Prendergast, national secretary at the GMB union, said: “This is extremely concerning but we remain hopeful that a buyer can be found.

“Wilko’s staff deserve reassurance that their jobs are safe.

“We hope this is the number one priority going forward.”

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