Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account (BMRRY), and has an annual turnover of 1.2 billion pounds ($1.5 billion). Wilko operates from 400 stores across the UK, where it competes with rivals such as B&M “We’ll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business,” he said in a statement. Wilko’s Chief Executive Mark Jackson said he hoped the privately-held retailer would be bought.
“Wilko’s staff deserve reassurance that their jobs are safe.” “This is extremely concerning,” the GMB union, which represents about 4,000 workers at Wilko, said in a statement.
The retailer could be one of the first major victims of Britain’s tougher economy, after consecutive interest rates rises that started in December 2021.ĭespite the squeeze on household incomes from the jump in interest rates and high levels of inflation, most high street chains have been able to keep trading well so far this year. Wilko said it had received indicative offers to help recapitalize but none of them were able to provide sufficient liquidity in the time needed, meaning it was set to call in administrators. Britain’s Wilko, a discount retail chain which sells homeware and household goods, is at risk of collapse after it filed a notice of intention to appoint administrators on Thursday, putting 12,000 jobs on the line if no buyer can be found.
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