The family-owned retailer sought protection from creditors after failing to secure emergency funding, having suffered a cash squeeze following a downturn in trading. “We left no stone unturned when it came to preserving this incredible business but must concede that with regret, we’ve no choice but to take the difficult decision to enter into administration,” Wilko Chief Executive Mark Jackson said.
It is Britain’s biggest retail casualty since convenience store chain McColl’s collapsed in May last year. McColl’s was subsequently bought by supermarket group Morrisons. Jackson said Wilko had received “a significant level of interest,” including indicative offers that could recapitalise the business.
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