‘Majority’ of Wilko stores to shutter in coming weeks

Budget UK retailer Wilko is set to close the “majority” of its stores within the coming weeks after it failed to find a buyer for the chain.

The move was reported to the GMB Union, which had been informed that there was “no longer any prospect that the majority of the business will be saved”.

Redundancies for staff, both in store and at call centres, are expected to begin during the coming week, potentially resulting in “significant job losses”.

In a release, GMB’s national secretary, Andy Prendergast, said: “GMB Union will continue to support our members through this process and will fight to ensure they are consulted as per the law and receive every penny they are entitled to.

“We will fight to ensure people are held accountable for this situation for the simple reason our members deserve so much better.

“GMB will not forget the incompetence that has led to this collapse and will we not forget the dividends paid to the millionaires who gambled workers' jobs on their whims.”

In the beginning of August, Wilko had filed an intention to appoint administrators after it wasn’t able to secure funding or a sale of the business.

The company had 10 days to secure a deal while remaining protected, with its CEO Mark Jackson initially telling the Daily Mail that there had been a “significant level of interest”.

Despite this, Jackson added that Wilko didn’t have an offer that provided “the necessary liquidity” in the time it had available due to “mounting cash pressures”.