WILKO WOE
All Wilko stores to close and disappear from high street for good within weeks after deal to save retailer collapses
WILKO is set to disappear from the high street for good within weeks after a deal to save the retailer collapsed.
All of Wilko's 400 stores across the UK are set to close by early October, a source has told The Sun.
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This means that redundancy is now likely for all 12,500 Wilko workers.
The Sun exclusively revealed that talks between the retailer's administrators PwC and HMV owner Doug Putman have failed.
It's brought to an end hopes that 200 stores and thousands of jobs could be saved.
It means Wilko shops will disappear from the high street forever, as a previous deal announced last week will see up to 51 branches become B&M branches.
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But the name Wilko could still live on as rival discounter The Range is in talks to take on the Wilko brand.
A deal would not include any shop locations, it's understood, but could see the Wilko name used online or for certain products, though details are still being finalised.
Meanwhile, Poundland is thrashing out a deal to take on around 70 locations, sources say, but they would not stay as Wilko stores.
The first of 52 previously announced store closures will begin tomorrow with more to come on Thursday, with the loss of 1,332 jobs.
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Now a further 124 closures will take place on September 19 and 21, it has been confirmed, with locations to be announced tomorrow.
The GMB union, which first revealed the closures, said it was "incredibly sorry to have to share the devastating news" with its members.
Is said that warehouses in Worksop and Newport are now both due to close on Friday, September 15.
It added: “Although separate bids may be made for leases of groups of sites, these deals will not secure jobs, although the option to take up new employment with the bidders for these sites is something we are now pushing for.
“This is not the news our members or the GMB had been hoping for or working towards.
“We share the sorrow and anger of every Wilko team member today.”
It's not yet clear which Wilko locations are being bought by B&M in a deal worth £13million.
The buyout does not include the staff currently working there.
The discount chain said more information on the new store openings will be issued alongside its half-year financial results on November 9.
The first wave of job cuts took place early last week, with a total of 269 support centre team member roles being axed in its Worksop site.
A further 14 jobs at Kin Limited, a subsidiary of Wilko, have also been cut after it too fell into administration.
Insiders previously expressed frustration that a rescue of Wilko had been delayed by the eleventh-hour intervention by M2 Capital, which has since been accused of time-wasting.
Administrators had given the firm a strict deadline to provide evidence that it has proof of funds to complete the full rescue of Wilko.
PwC then refused to grant M2 extra time after grave doubts about its credibility.
It marked the second time a deadline for Wilko buyers had passed, three weeks after the retailer went bust.
The Sun previously reported that several potential buyers had shown an interest in Wilko's business.
Wilko collapsed into administration back in August after failing to find new backing for the business.
Shoppers took to social media to share their emotional tributes to Wilko when it first entered administration, with many comparing it to the loss of Woolworths.
Others were also looking forward to extra bargains ahead of Wilko launching an administration sale which has seen discounts of up to 50% on a range of items.
Chief executive officer, Mark Jackson, said that the company had "left no stone unturned" in a bid to save the chain.
In an emotional open letter to all staff and heartbroken shoppers, Mr Jackson thanked them for their support.
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Meanwhile, we have put together a full list of Wilko sites which have been signposted for closure.
To keep up to date with the latest on Wilko follow our live blog.
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