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Wilko: Redundancies to be made next week as £90m rescue bid to save discount retailer from closing collapses

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Administrators have confirmed that hundreds of staff at Wilko currently working for the collapsed chain will lose their jobs over the coming days, with more to follow.

The redundancies are being made after the latest deal to buy the business fell through.

Private equity firm M2 Capital said it made a £90m bid for Wilko but was unable to provide proof of funding in time to complete the sale.

PwC, which is overseeing Wilko’s sale, said it was it was clear there was no viable offer to buy the whole business.

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Wilkos fell into administration earlier this month putting 12,500 jobs at risk across 400 shops.

The discount chain has stores in Arnold and on Carlton Square.

PwC said that 269 jobs at the chain’s support centre in Worksop and 14 others from a subsidiary firm of Wilko would be cut at the close of business on Monday, September 4.

Further redundancies are expected early next week.

All of the chain’s stores are currently trading and remain open.

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The GMB union, which represents about 4,000 Wilko staff, said the majority of people working in Wilko’s commercial trading team, IT, finance, legal and HR would be made redundant on Monday.

Wilkinsons was founded in Leicester in 1930, was family-run until its collapse this month and is well-known for its affordable everyday items.

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