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Published 9 months ago

More Wilko job losses loom as Putman rescue deal collapses

  • A rescue deal for value retailer Wilko has collapsed, raising fears of thousands of job losses. Doug Putman, owner of HMV, ended talks with PwC over a slimmed-down deal. PwC may now seek an agreement with the owner of Poundland to offload about 100 stores. The Range is also in advanced talks to buy Wilko's brand and online assets.
  • The collapse of the talks with Putman is a blow to hopes of saving jobs. PwC has already announced 1,600 redundancies since Wilko went into insolvency. The future of the company's 10,000 workers and hundreds of stores is uncertain.
  • Wilko had been seeking external investment and had been hit by inflationary pressures and supply chain challenges. Proposals by Doug Putman were hampered by high costs and difficulties with overhauling supply chains. Wilko's competition from chains like B&M, Poundland, The Range, and Home Bargains has also impacted its performance.
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