Wilko on brink of administration
Embattled retailer Wilko has filed a notice of intention to appoint administrators after failing to find investment.
In a statement, Wilko said that, while it had had a “significant level of interest, including indicative offers that we believe would meet all of our financial criteria to recapitalise the business… we don’t today have an offer that provides necessary liquidity in the time we have available”.
The retailer pointed to “mounting cash pressures we’re faced with” as the reason for appointing administrators today.
Subscription content
Please sign in now if you have a subscription or are already registered with us.
Register for free to continue reading
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
- Two free article views per calendar month on Retail-Week.com
- Detailed analysis of current trends and events
- Exclusive newsletters
- In-depth reports, videos, interviews and much more
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.