HIGH Street giant Wilko has revealed it looks set to call in administrators, putting 12,000 jobs at more than 400 stores nationwide at risk.
The retailer, which boasts landmark stores in both Worcester, Redditch and Kidderminster, now has a 10-day period to secure finances to continue trading.
The former Wilkinson’s business has been a staple of the High Street for more than 20 years with customers draw to its array of products from homeware, snacks, toiletries and household items.
Wilko chief executive officer Mark Jackson said: “While we can confirm we’ve had a significant level of interest, including indicative offers 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.
“We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.”
The notice of intention doesn’t mean the retailer will enter administration, but it has sparked fears of stores closing.
However a spokesperson added: “There are no immediate store closures planned as a result of the announcement today, and the business continues to trade as usual during this period.”
