PwC has said hundreds of employees will be made redundant at Wilko, effective from close of business on 4 September.
After weeks of discussions with possible investors looking to save the struggling retailer, PwC administrators said: “While discussions continue with those interested in buying parts of the business, it is now clear that no viable offer structure put forward includes the group in its entirety.”
Private equity firm M2 Capital made a bid for the entire business, including its 400 stores, late last week. The offer failed when the firm was unable to submit requested information and evidence of funds.
Given this, administrators have decided to end 269 employee contracts. The staff belong to Wilko’s support and distribution centres in Worksop and Newport. Further job losses will be announced across the two locations from next week, although numbers have not yet been confirmed.
In addition, there have been no viable offers received for Kin Limited, a subsidiary of Wilkinson Hardware Stores. The company will also close on 4 September and another 14 jobs will be lost.
All stores remain open and trading
Update on 1 September
Online marketplace OnBuy has made a bid for Wilko.
In a LinkedIn post, OnBuy CEO Cas Paton said: “OnBuy made a last-minute bid on Wilko to try and keep the household brand part of English history for time to come – we’re waiting on news. Fingers crossed.”