WILKO’S top boss has issued a heartfelt message to both shoppers and staff after the chain collapsed
The homeware retailer, known for its bargain prices, has announced that it has fallen into administration.
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Wilko’s boss has issued a heartfelt message to both shoppers and staffCredit: Getty
Chief Executive Officer, Mark Jackson, said that the company “left no stone unturned” in a bid to save the chain.
It was reported earlier this week that the retailer was in talks with the firm behind Laura Ashley – but hopes of a rescue deal have failed.
The brand was also said to be in talks with several other buyers, but these did not lead to a deal to save it from collapse.
It has now been announced that Wilko has in fact appointed administrators, with all control of the business being passed over to PricewaterhouseCoopers (PwC).
In an emotional open letter to all 12,000 staff and heartbroken shoppers, Mr Jackson thanked them for their support.
He recalled how the discount chain, which was founded originally in 1930 as Wilkinson Cash Stores, grew from one shop to more than 400.
Mr Jackson acknowledged the hardship the chain has undergone in recent months, including introducing a turnaround plan in an attempt to gain stable footing.
The company announced plans to close over a dozen of its shops in January last year.
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Then in February 2023, it revealed it planned to cut over 400 jobs, including both store and head office roles.
Most recently in May, the discount chain was looking at restructuring options and approached financial advisors.
Mr Jackson wrote: “We’ve all fought hard to keep this incredible business intact but must concede that time has run out.”
He added that the company is working to preserve “as many jobs as possible” by working with adminstrators.
Below is Mr Jackson’s open letter in full.
Over the past six months wilko has been very open that we’ve been considering options to accelerate a turnaround plan given that we needed to make significant changes to the way we operate to restore confidence and stabilise our business.
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.
We’ve a history steeped in serving customers and communities going back to 1930.
Our founder JK Wilkinson started with a single hardware shop in Leicester and for over 90 years busy, hard-working families have come to us to get their household an …
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