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.

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