WILKO has become a high street staple over the years, but it may disappear soon.
You may remember it being called Wilkinson instead, but what’s the difference to Wilko?
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When was Wilkinson founded and who owns it?
Wilkinson or Wilko is a British high-street retail chain which sells homewares and household goods.
The company was founded in Leicester by James Kemsey Wilkinson in 1930 and still remains in the ownership of the founding family.
The founder’s son, Tony Wilkinson, joined the company as a branch manager in 1960 before succeeding his father as chairman in 1972.
In June 2005 he was succeeded by his daughter Lisa Wilkinson and his niece Karin Swann.
In 2014 Swann sold her family’s half of the business to Lisa Wilkinson.
What’s the difference between Wilko and Wilkinson?
Wilko has had multiple difference names since the business began.
Wilko Limited was formerly known as Wilkinson Cash Stores between 1930–1941, before Wilkinson Hardware Stores Limited in 1941–2014.
When did Wilko go into administration?
On August 3, 2023 Wilko filed a notice of intention to appoint administrators after failing to find a buyer, after being faced with financial difficulties and supply issues for some time.
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The company borrowed £40million the previous year from Hilco as well as cutting jobs and restructuring its leadership.
On 10 August 2023 the company went into administration, putting 12,000 jobs at risk.
In an open letter, Wilko chief executive Mark Jackson addressed the situation, saying: “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.”
He concluded by saying: “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.”
This post first appeared on thesun.co.uk
