More than £10million was handed to Wilko shareholders before the retailer collapsed into administration. The business made the announcement of administration on Thursday, August 10, a week after they had filed a notion of intention.
The parent companies of the retailer have dished out millions over the last decade in dividends, which was £10.9million paid between February 2013 and January 2022, reports The Daily Mirror from their analysis of Companies House filings. Nadine Houghton, national officer at GMB – which represents thousands of its staff – said: “These payouts are staggering.
"It’s disgraceful that so much money has left the business when 12,000 working people are facing potential redundancy.” In January, Lisa Wilkinson, granddaughter of the founder, stepped down as chair but stayed on the board as a family director.The company was established in 1930, and they secured a £40million loan following a warning in November that it could run out of cash.
Administrator PwC said Wilko would “continue to trade all stores without any immediate redundancies as discussions with interested parties continue”. It added: “If buyers for some or all of the group are not found, it is likely that store closures and redundancies will follow.” PwC’s Zelf Hussain said: “Wilko has been impacted by inflationary pressure and rising interest rates.”