Wilko on verge of liquidation

THE management of homeware and household goods retailer Wilko, which has a shop in Royal Victoria Place (RVP), has filed a “notice of intention” to cease trading, following a liquidity crisis.

Wilko Chief Executive Officer Mark Jackson said on Thursday (August 3): “While we can confirm we’ve had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present we don’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.

“Unfortunately, with this in mind, today we’re having to take the difficult decision to file a notice of intention.”

He said the group had a cost-savings plan to turn the business around and would continue discussions with “interested parties”.

Currently, 408 Wilko shops across the UK, including the one in RVP, are still trading.

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