![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/whats-next-for-wilko-and-its-12500-workers/&media=https://uknews.evprotec.com/wp-content/uploads/2023/08/130775658_wilkopa.png&description=Image source, Getty Images Wilko, the discount homewares retailer, is facing its most crucial few weeks in its 90-year history. On Thursday, the chain was forced to appoint an administrator after it failed to find a buyer to save the cash-strapped business. That decision puts 12,500 jobs at risk and means 400 shops could close. But does it mean that Wilko will disappear from UK High Streets forever? Or is there still hope for the firm and its many workers? Wilko is a business that ran out of time and money. No-one was prepared to stump up the £75m or so that was needed straight away to get the chain back on track and pay suppliers to fill its sparse shelves. "The scale of it was just too huge, without a guarantee of success," said a source familiar with the situation. Now the chain is in administration, a potential buyer would not be responsible for any of Wilko's debts, making a purchase more attractive. The BBC understands there is interest, including from two retailers. Depending on how things play out, administrators are said to be hopeful that many shops might be saved - which could number "in the hundreds". If a rival does buy Wilko, it raises a question about the survival of the brand. On the other hand, a turnaround business could make an offer to take Wilko on, albeit in a smaller form. Industry experts believe any buyer will have to significantly cut costs and close stores. There could be an outcome by the end of next week. But if a rescue deal isn't possible, then Wilko will go into liquidation and start to be wound down. PwC, which has been appointed as the administrator, declined to comment. Wilko has been a stalwart of Britain's High Streets for decades. For that reason, its demise will have "significant implications" for other businesses, according to the British Independent Retailers Association (Bira). "Its plight serves as a stark reminder of the challenges faced by traditional retailers in an ever-evolving market environment," said Andrew Goodacre){kind=link}
Wilko, the discount homewares retailer, is facing its most crucial few weeks in its 90-year history.
On Thursday, the chain was forced to appoint an administrator after it failed to find a buyer to save the cash-strapped business.
That decision puts 12,500 jobs at risk and means 400 shops could close.
But does it mean that Wilko will disappear from UK High Streets forever? Or is there still hope for the firm and its many workers?
Wilko is a business that ran out of time and money.