Wilko goes into administration after rescue talks fail

Wilko, who have stores in Swansea, Morriston, Llanelli, Carmarthen, Neath, Port Talbot, Bridgend, Haverfordwest, Pembroke Dock and Ammanford, recently stopped processing online orders, telling customers to use their click and collect service or browse their physical stores instead.

Mark Jackson, the Chief Executive of Wilko said: “Over the past six months we’ve been open with all our stakeholders including our team members 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.

“I’d like to take this opportunity on behalf of the directors and the Wilkinson family to thank all of our customers and our hardworking team members across our stores, logistics and support centre who remained loyal to wilko.

“It’s been an honour to have worked alongside you all as we fought to realise and to maximise the significant opportunities that existed to re-establish a profitable wilko.”

Zelf Hussain, Joint Administrator and PwC partner, said: “It is incredibly sad that a well loved, family business that has been on the high street for over 90 years has had to go into administration today. I know the management team has left no stone unturned in trying to save the business. 

“Many high street retailers are facing a number of well-documented challenges and wilko has been significantly impacted by the headwinds facing the industry including inflationary pressure and rising interest rates.

“wilko has been a staple of many British high streets for decades. We know that the appointment of Administrators, which comes during an already challenging time for many, will be an unsettling development for everyone involved with the business – particularly its committed team members – and the communities it serves. 

“As Administrators we will continue to engage with parties who may be interested in acquiring all or part of the business. Stores will continue to trade as normal for the time being and staff will continue to be paid.”

(Lead image: Swansea Bay News)