High street chain Wilko is teetering on the edge of collapse after submitting a Notice of Intention (NOI) to appoint administrators. The company, which operates 408 stores across the UK, including 27 in Wales, has been grappling with mounting cash pressures and struggling to find a buyer.
Wilko’s CEO, Mark Jackson, revealed the challenging situation, stating that while the company has received significant interest and indicative offers to recapitalise the business, none have provided the necessary liquidity in the available time frame. He emphasised that the NOI was a necessary step to maintain financial stability while exploring potential rescue options.
The potential collapse of Wilko puts around 12,000 jobs at risk in its stores nationwide, making it the largest privately-owned retailer in Britain.
The Welsh stores facing uncertainty include outlets in Aberdare, Abergavenny, Ammanford, Barry, Blackwood, Bridgend, Cardiff, Carmarthen, Chepstow, Cwmbran, Holyhead, Llandudno, Llanelli, Merthyr Tydfil, Neath, Newport, Pembroke Dock, Pontypool, Port Talbot, Porthmadog, Pwllheli, Rhyl, Swansea, and Wrexham.
The situation has raised concerns among employees and customers alike, as Wilko plays a significant role in many communities. The company’s future remains uncertain as it navigates through financial challenges in the coming days.