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Top related persons:
Wilko - 2 “ - 2 ” - 2 Mark Jackson - 2 PwC - 1 McColl’s - 1 Jackson - 1 Wilko’s - 1
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Leicester England Wilko
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Morrisons - 1

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2 mentions found


☆ Wilko: UK discount retail chain collapses putting 12,000 jobs at risk
  + stars: | 2023-08-10 | by ( ) edition.cnn.com   time to read: +1 min
British discount retailer Wilko said it has fallen into administration on Thursday, a form of creditor protection that puts its 12,000 jobs in danger. The family-owned retailer, facing a cash squeeze after a downturn in trading, had failed to secure emergency investment. It is Britain’s biggest retail casualty since convenience store chain McColl’s collapsed in May last year. Jackson said Wilko’s had “a significant level of interest,” including indicative offers that could recapitalize the business. Despite the squeeze on household incomes from the jump in interest rates and high levels of inflation, most UK high street chains have traded resiliently so far this year.
Persons: Wilko, “, ”, Mark Jackson, PwC, McColl’s, Jackson, Wilko’s, we’ve Organizations: Morrisons Locations: Leicester, England
☆ Wilko: 12,000 jobs at risk as UK discount chain on brink of collapse
  + stars: | 2023-08-03 | by ( ) edition.cnn.com   time to read: +1 min
Britain’s Wilko, a discount retail chain which sells homeware and household goods, is at risk of collapse after it filed a notice of intention to appoint administrators on Thursday, putting 12,000 jobs on the line if no buyer can be found. The retailer could be one of the first major victims of Britain’s tougher economy, after consecutive interest rates rises that started in December 2021. “This is extremely concerning,” the GMB union, which represents about 4,000 workers at Wilko, said in a statement. “Wilko’s staff deserve reassurance that their jobs are safe.”Wilko’s Chief Executive Mark Jackson said he hoped the privately-held retailer would be bought. Wilko operates from 400 stores across the UK, where it competes with rivals such as B&M (BMRRY), and has an annual turnover of 1.2 billion pounds ($1.5 billion).
Persons: Britain’s, Wilko, “, Mark Jackson, “ We’ll, ” Locations: Wilko
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