Published 3 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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BBC News

All Wilko shops to shut with 12,500 jobs likely to go

The Wilko name will disappear from UK High Streets as a rescue deal for the chain falls through.

3 months ago·United Kingdom

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The Independent

Wilko rescue hopes fade as talks with HMV owner collapse

Administrators for the high street chain had been in discussions with Doug Putman over a deal to buy around 200 Wilko shops.

3 months ago·London, United Kingdom

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Daily Mirror

More than 9,000 Wilko employees set to lose their jobs as rescue deal collapses

Some 400 Wilko stores - including multiple across London - will close within weeks after the latest development tonight, confirmed by administrators PWC in a solemn statement

3 months ago·London, United Kingdom

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Metro News

Wilko administrators 'set to sell 100 stores' as HMV's rescue bid collapses

Around 100 Wilko stores are expected to be sold to their rivals(Picture: Getty) A rescue deal for Wilko’s has collapsed, with the retailer’s administrators now expected to try to sell about 100 stores to Poundland. The last-minute bid proposed by HMV owner Doug Putman has been reported to have fallen short. The Range is also now set to buy the Wilko brand as PricewaterhouseCoopers (PwC) continues to try to save as many of its 400 stores and 12,5…

3 months ago·London, United Kingdom

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