Wilko (formerly Wilkinson) was founded in Leicester in 1930 by James Kemsey Wilkinson and his fiancee
Wilko was founded in Leicester in 1930 year. James Kemsey Wilkinson and his fiancee. Formerly called Wilkinson, it was renamed Wilko in 2014 when one side of the Wilkinson family left the business to pursue other interests, selling its stake to the remaining family members.
Business has struggled during and after the pandemic, resulting in supply disruptions and a sharp drop in store visits.
Wilko has also faced increasing competition from competitors such as Home Bargains, Poundland and B&M.
In early 2023, the company took out a £40m loan from restructuring specialists Hilco UK – owner of Homebase – to finance the turnaround.
Mr Jackson said the business had made “significant savings” and improved its digital proposal, trying to change its fortunes in recent months. However, the efforts were unsuccessful.
Ms. Steer said: “In recent years, many major retailers have fallen on particularly difficult times as consumer spending cuts, inflationary pressures and rising costs continue to take their toll.
“We know that the appointment of administrators that comes at an already challenging time for many, will be a worrisome event for everyone involved with the business.
“As administrators, we will continue to engage with parties who may be interested in acquiring all or part of the business. For now, stores will continue to operate as normal and staff will be paid.”
The investment firm Gordon Brothers, which owns Laura Ashley, was in talks with Wilko earlier this week about a possible bailout deal. but ultimately refused.
Earlier this week, Wilko suspended home deliveries to customers in a sign that the company was nearing collapse.
Wilko is the latest in a string of retailers to go bankrupt. recent years, including Debenhams, BHS and, most recently, Scottish clothing retailer M&Co, which went bankrupt in December 2022.
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