Homeware store Wilko has announced plans to appoint administrators for 12,000 jobs at risk.
The Nottinghamshire-based firm has around 400 stores in the UK, filed a notice to appointment administrators on Thursday.
Wilko, Chief Executive, Mark Jackson said “while we confirm we’ve had a significant level of interest including indicative offers that we believe would meet our financial criteria to recapitalise the business, we don’t at present have an offer that provides the necessary liquidity in the time we have available.”
It is not yet known if any stores will close whilst the company has filed for administration. However, the Chief Executive expects a positive outcome to the process.
“We continue to believe that a robust turnaround plan, with significant restabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.”
