Wilko name to disappear from High Street: Full list of stores 'to close by early October' CONFIRMED
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A rescue deal for around 200 Wilko stores has fallen through, it was confirmed earlier today
All of Wilko's 400 stores will close by early October, administrators told GMB union today.
It would mean redundancies for all 12,500 staff at the business now seem likely.
The union said: “We are incredibly sorry to have to share the devastating news that (administrators) PwC have confirmed the previous offer being explored for the sale of hundreds of stores as a going concern has fallen through.
“There is now no prospect of saving the remaining store estate in its entirety and all Wilko stores will close by early October with DCs (distribution centres) to close on Friday September 15.”
Wilko will close 52 stores this week, with these closures announced last week
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It added: “Although separate bids may be made for leases of groups of sites, these deals will not secure jobs, although the option to take up new employment with the bidders for these sites is something we are now pushing for.
“This is not the news our members or the GMB had been hoping for or working towards. We share the sorrow and anger of every Wilko team member today."
GMB said: “Staff will be asked to work two extra days after the store have closed. Likewise, a small number will be required to stay on at the DCs for up to 14 days to assist with the decommissioning.”
Nadine Houghton, GMB National Officer, said: “Wilko was far more than a brand, a retailer or the products it sold, it was the thousands of loyal team members now facing an uncertain future.
“Wilko may have ceased genuinely being a family brand many years ago, but the staff kept the real family ethos of Wilko alive until the very end. It is the family that Wilko colleagues made for themselves that will be missed the most."
A rescue deal for hundreds of stores collapsed, it was announced today after talks between HMV owner Doug Putman and Wilko administrators ended.
It's understood there are other bidders in talks about a deal, although no parties are interested in running shops under the Wilko name.
In a statement to The Sun, Mr Putman said: “It is with great disappointment that we can no longer continue in the purchase process for Wilko having worked with administrators and suppliers over several weeks to seek a viable way to rescue it as a going concern.
“We had financing in place and received the full support of PwC, Wilko management and staff representatives, which we are deeply thankful for considering what a challenging time it has been for them.
“However, commitment to overhauling the trading framework of the business with partners and the costs of running Wilko’s legacy operations infrastructure combined has meant that a stable foundation could not be secured to ensure long-term success for the business and its people in the way that we would have wanted.”
B&M announced it planned to buy 51 Wilko properties for up to £13million last week, but it's likely the shops would be rebranded as new B&M stores.
Wilko will shut its first shops this week after 52 closures were announced last week. Administrators from PwC said these closures will lead to 1,016 redundancies.
Kevin Mountford, savings expert and co-founder of Raisin UK, said: "At the moment, it's still business as usual with the administration sale in all stores.
“You will want to use your Wilko gift cards as soon as possible, as these could soon no longer be accepted.
“You can no longer use gift cards that belong to wider retail initiatives, like Love2Shop.”
LATEST DEVELOPMENTS:
Wilko shoppers are being urged to use their Wilko gift cards 'as soon as possible'
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All of Wilko's stores will close by early October, according to GMB Union.
Wilko will close 52 stores this week, on Tuesday and Thursday.
The following Wilko shops will close on Tuesday September 12:
The following Wilko shops will close on Thursday September 14:
This is the full list of Wilko store locations, all of which are set to close:
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