The future of Wilko stores hangs in the balance, with the imminent closure of the majority of shops, including the potential shuttering of two stores in Swindon, within a matter of weeks.
According to the General and Municipal Workers Union (GMB), administrators from PricewaterhouseCoopers (PwC) have said that the prospects of salvaging the bulk of the business have dwindled to a point of no return, following their unsuccessful attempts to secure a suitable buyer for the business.
While a slim possibility remains for certain stores to be acquired individually or bundled within larger deals, it is anticipated that substantial job losses will become an unfortunate reality in the coming days.
The Swindon stores in the Town Centre and the Greenbridge Retail Park will continue to trade and staff will be paid “in the immediate term,” PwC say.
PwC said it was clear interested parties only wanted parts of the business. Administrator Jane Steer said: “Sadly, it is therefore likely that there will be redundancies and store closures and it has today been necessary to update employee representatives.”
Andy Prendergast, GMB national secretary, blamed Wilko bosses for the job losses of its members and the closure of the stores.
“We will fight to ensure they are held accountable for the simple reason our members deserve so much better” he said.
“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 your jobs on their whims.”
The privately-owned Wilko, boasting an employee base of 12,000 individuals and a retail presence comprising 400 stores across the UK, is confronted with an unsettling reality as its £1.2 billion turnover now stands threatened by these impending developments.
