WILKO shoppers will be wondering if their local store is still open as the retailer’s future hangs in the balance.
The high street chain collapsed into administration, putting the future of its 400 shops and 12,500 workers at risk.
1
Administrators from PwC swiftly sought offers from potentially interested firms which could save jobs and stores.
It is understood that bidders were set a deadline to register their interest, but the insolvency process is still continuing.
For loyal shoppers, understanding the administration process can be tricky.
Below, we explain everything we know so far and if its stores are still open.
Is Wilko still open?
Yes, all of Wilko’s 400 stores are currently still open as usual, but their future remains uncertain.
Administrators at PwC, who now control the company, are looking at bids from several potential buyers, according to insiders.
The bids will take time to process and an announcement of a decision on Wilko’s future is unlikely to come this week.
Is there a sale at Wilko?
Wilko has launched a huge sale with up to 50% off hundreds of items.
Most read in Money
The sale will see reductions on new items, including Christmas essentials, sources told The Sun.
These discounts are being issued on top of the administration sale which is already understood to be up and running in stores.
Shoppers will be able to find reductions between 20% and 50% across various popular ranges.
What do we know about the Wilko administration so far?
We’ve recently reported that several parties are interested in saving the beloved discount chain.
One could save as many as 300 branches from closing down and would preserve the most jobs.
But it is understood that early expressions of interest were mixed, and the majority of offers are for between 40 to 50 stores.
Discount retailers B&M, The Range, Poundland and Home Bargains have all expressed an interest, according to those in the know.
But even if a buyer is found, the insolvency process means that a buyer can pick and choose the parts of a business it wants.
This means that both the stores and the brand could be saved.
Or it may choose to buy no stores at all and instead buy up the remaining stock or brand name only.
Sources cautioned that no deal was guaranteed.
Other rival discounters unlikely to have made an offer include Dunelm, Frasers Group and Iceland.
Sources at both Next and Poundstretcher previously told The Sun that they had no interest in rescuing Wilko.
Chief Executive Officer, Mark Jackson, said that the company had “left no stone unturned” in a bid to save the chain.
Meanwhile, Wilko’s official superfan says the chain “holds a huge place” in her heart and she’ll miss everything about it – and one part in particular.
Plus, here is the full list of 400 Wilko stores at risk of closing.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
