A plan for 300 stores to be saved has fallen through due to rising cost concerns
More than 10,000 workers have been thrown into an uncertain situation after a deal that could have saved Wilko fell through.
The bargain store chain was set to be bought out by HMV owner Doug Putman, who said he planned to keep 300 locations open. However, his bid ran into issues due to rising costs and issues with Wilko's "supply chains". It comes after Wilko announced earlier this year that it had fallen into administration, with administrators PwC recently announcing that 52 stores would close down, reportedly resulting in 1,015 redundancies.Mr Putman told The Sun that "a stable foundation could not be secured" which would secure the future of the business. Wilko, which employed around 12,500 staff members had already secured a £13 million deal to sell 51 stores to B&M.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Yorkshire Wilko stores set to close for good later this week52 Wilko stores will shut this week with 1,016 employees losing their jobs
Read more »
Wilko rescue deal collapses sparking store closure and job loss fearsRescue talks with the owner of HMV failed to reach a deal over Wilko.
Read more »
15 of the big high street losses as Wilko enters administrationThey were familiar sights for generations
Read more »
Full list of 52 Wilko stores that will close for good this weekThe high street giant entered administration last month
Read more »