Wilko store closures 2023: Wilko goes into administration?

3 August 2023, 15:06 | Updated: 10 August 2023, 10:44

Wilko shop closures 2023: Wilko goes into administration. Picture: Alamy

By Alice Dear

Is Wilko closing down? Latest news as retailer updates shoppers on store closures.

Wilko has formally collapsed into administration, appointing PwC to lead the process, as 12,000 jobs are put at risk.

The popular high street shop, best known for selling homeware goods, currently has over 400 stores across the UK and employs 12,000 members of staff.

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Here's everything we know so far.

Wilko said that there are no immediate store closures planned and that the business will continue to trade as normal. Picture: Alamy

Is Wilko closing down?

Wilko has officially entered administration, appointing administrators PwC to guide the proceedings, putting 12,000 jobs at risk.

In its efforts to secure a viable rescue agreement, the retailer had been actively pursuing a solution after filing a notice of its intent to designate an administrator last Thursday.

In a statement, CEO Mark Jackson said: "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.”

Wilko stores could soon disappear from the high-street. Picture: Alamy

Which Wilko stores are closing down?

It is unclear at this time which stores will close and on what timescale.

Wilko has over 400 stores across the UK and employs 12,000 members of staff. Picture: Alamy

Who owns Wilko?

Wilko is a privately-owner goods retailer which was founded in 1930 in Leicester by James Kelsey Wilkinson.

The company is still owned by the Wilkinson family today.

It was in talks with private equity firms Laura Ashley-owner Gordon Brothers, Bensons for Beds-owner Alteri, and OpCapita, as well as a rival retailer. Those discussions ultimately failed, leading Wilko to formally appoint PwC.