Wilko: B&M snaps up 51 stores of beleaguered retailer for £13m September 5, 2023 B&M has confirmed that it will buy 51 Wilko stores for £13m following the highstreet stores collapse. The rival discount chain, which has over 700 sites across the UK, did not mention how many job roles would be saved in the process. On the sale, its share price was down more than three per cent [...]
HMV owner finalising deal to save majority of Wilko stores, reports say September 1, 2023 Thousands of jobs could be saved at collapsed retailer Wilko as the owner of HMV finalises a deal to buy hundreds of stores. A bid to buy the entirety of the business fell through on Thursday, leading to the first wave of redundancies affecting support centre and warehouse staff. But administrator PwC said that discussions [...]
Wilko: Over 200 job cuts confirmed after M2 Capital drops out of bidding race August 31, 2023 Administrators for Wilko confirmed today that over 200 jobs will be lost after M2 Capital's bid to buy the entire group timed out this morning.
Wilko: M2 Capital set to bow out of takeover race after missing bid deadline August 31, 2023 M2 capital has missed a deadline to show it has sufficient funds to snap up Wilko, City A.M. has learned, in a sign that the frontrunner in the race to save the high street chain could be about to bow out. Administrators for Wilko, PwC, had until 09:00 today to submit documentation to prove it [...]
Wilko: Union warns that job losses could be announced on Thursday August 30, 2023 Job losses at Wilko could reportedly be announced as soon as Thursday, after an offer to buy the entire 400-strong estate failed to pass “basic checks”, members from the GMB Union have warned. The union representing thousands of Wilko staff has now said that redundancy talks, which were suspended earlier this week, could be restarted. [...]
Who are the frontrunners in the race to save Wilko? August 30, 2023 Why did Wilko go bust? A cocktail of dwindling demand for physical stores and competition in the discount market appeared to tip Wilko into administration. Even when a squeeze on public finances forced shoppers back to the high street in search of cheaper goods, they seemed to favour rivals B&M and Poundland when nabbing a [...]
Wilko ‘not out of the woods’ yet as redundancies suspended while PwC mulls bids August 29, 2023 Wilko has suspended all redundancies while its administrators PwC consider further bids, GMB Union has said. The union met administrators of PwC this morning to discuss multiple bids which have been made for the discount retailer. “Whilst this is a positive development, Wilko is not out of the woods by any means and this is [...]
Wilko: Second last-minute bid launched to save stricken retailer August 28, 2023 A second last-minute bid worth £90 million has been made by restructuring specialist M2 Capita, according to reports, which could keep the entire Wilko chain trading.
Wilko job cuts ‘likely’ – but 11th hour talks with Poundland owner continue August 23, 2023 Administrators for Wilko today warned that job losses were “likely” as potential buyers were no longer interested in acquiring the whole group. Wilko first called in the administrators three weeks ago after several months looking for investment failed to bring forth any fruit. Sky News reported today that Poundland owner Pepco Group is in advanced [...]
Cost of living crisis: 63 per cent of Brits now shop at discount grocery stores August 22, 2023 More than half of shoppers now shop at discount grocery stores as Brits continue to seek out bargains amid the cost of living crisis. According to new data released by NIQ, in the last four weeks some 63 per cent of the public shopped at value chains such as Aldi, B&M and Poundland, with over [...]