Wilko looks likely to fall into administration today as hopes of a solvent rescue deal for the retailer fade.
The chain is expected to appoint PwC as administrator today, according to Sky News.
Wilko had been in talks with private equity firms Laura Ashley-owner Gordon Brothers, Bensons for Beds-owner Alteri and OpCapita as well as a rival retailer as it sought a rescue deal.
However, talks have stalled and a source told the publication that an administration today Thursday was “inevitable”.
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The retailer filed a notice of its intention to appoint an administrator last Thursday but had hoped to broker a solvent sale in the interim.
Wilko would be the biggest high street casualty in years and would put 12,000 jobs in jeopardy.
The retailer had filled the gap left by the collapse of Woolworths in 2008, but has since faced increasing competition from value retailers including B&M and Home Bargains.
In a bid to boost its balance sheet after swinging to a £36.6m loss last year, the chain has borrowed £40m from restructuring specialist Hilco, axed more than 400 jobs and sold several of its distribution centres.
It emerged today that Wilko had suspended home deliveries on its website
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3 Comments. Leave new
I think its a great shame that Wilco seems set to disappear from the High Street to join the ranks of Woolworths, British Homes Stores, Littlewoods and a number of other large store groups into the retail history books. I like the stores and use the one in Penge, but its often a depressing experience, with very few staff on the checkouts (though those that are are always very pleasant and helpful), shelves frequently not stocked up and a general air of doom and despair about the place. I suppose their market as a general sell-it-all retailer (its very good, for instance, for decorating materials, pain etc) has been squeezed by the likes of Poundland, B & M and others, but still a shame to see it go to the wall and I shall miss popping in the store for the odds and ends that I prefer to purchase there.
I saw this coming long time ago with all the axing of positions and making other staff fill in the gaps and constantly no stock on the shelves, No stock means customers go elsewhere and that includes me too.
Lisa Wilkinson is to blame for the down fall of Wilco her stupid ideas over the years caused the high street brand .thinking Wilco would be like John Lewis she was mad to think that the loss of all her security team resulting in profit falling the earth she became deluded with the running of Wilko and her father should have let her take the reins I worked for Lisa Wilkinson as part of her security team for 14 years and got stab in the back when she decided just to get rid of them all her big ideas have vanished like her now however those poor members of staff face losing there jobs mind you the family creamed so much before the end of wilko they should be ashamed