Wilko job cuts put on hold as new bid considered by administrators for beleaguered high street chain

Planned job cuts at administration-hit high street chain Wilko will not yet go ahead while a new bidder is continued.
Watch more of our videos on Shots! 
and live on Freeview channel 276
Visit Shots! now

Last week it was expected that 12,500 jobs and 400 stores were at risk after PwC failed to find a buyer for the whole business.

But a fresh, £90m bid has been by private equity firm M2 Capital for the chain, which has stores on Kirkgate in Wakefield, Carlton Street in Castleford, Salter Row in Pontefract, Southgate in Halifax, Commercial Street in Brighouse, Birstall retail park, and Crackenedge Lane in Dewsbury.

Hide Ad
Hide Ad

Under the plans all jobs would be retained for at least two years.

A general view of branch of Wilko on August 04, 2023. (Photo by Christopher Furlong/Getty Images)A general view of branch of Wilko on August 04, 2023. (Photo by Christopher Furlong/Getty Images)
A general view of branch of Wilko on August 04, 2023. (Photo by Christopher Furlong/Getty Images)

The GMB union said while this was a positive development, Wilko was not out of the woods.

The union said it with administrators this morning, Tuesday, to discuss multiple bids that had been made.

Andy Prendergast, GMB national secretary said: “All redundancies at Wilko have been suspended while the administrator considers further bids.

Hide Ad
Hide Ad

“Whilst this is a positive development, Wilko is not out of the woods by any means and this is a time of incredible stress and worry for the 12,500 workers who face losing their jobs.”

Read More
Strikes off at Wakefield Coca-Cola plant after company agrees 18% pay increase f...

Wakefield’s Labour MP Simon Lightwood wrote to Business Secretary Kemi Badenoch to ask what support the Government will put in place for employees who are made redundant, to find new employment.

He also asked what protections will be in place to prevent workers being made redundant without the requisite notice period

Mr Lightwood said: “Wilko is an iconic brand of UK high streets providing a cheap and reliable range of products for communities up and down the country. Sadly, stories of high street chains having financial trouble is nothing new.

Hide Ad
Hide Ad

“I am really concerned about what the closure of Wilko stores will mean for the 12,500 staff, especially in the current cost of living crisis, particularly those working in the Kirkgate store.

“I hope that the government will do all it can to help facilitate a buyer for the company and also support any employees whose jobs are lost as a result of any store closures.”

PwC said talks were "continuing with a number of parties".