 Wilkinson when he opened his first store Wilkinson Cash Store on Charnwood Street in Leicester in 1930. By the end of the Thirties, it had six shops. In the 1950s, it benefited from a boom in DIY and continued to expand, launching its own paint range, and adding gardening products. The chain began its rebranding to Wilko in 2010, and stocked everything from pick-n-mix sweets and stationery to cheap bathroom fittings and lighting. Throughout this time, it remained family-owned, rather than joining others by listing on the stock market. The business also prided itself in helping staff. An employee benefits trust set up by Tony Wilkinson, the founder's son, in the 1980s provided holiday accommodation, educational benefits, and financial support. Q: So what went wrong? While it launched an online arm, Wilko was still heavily reliant on its stores. Indeed, when Woolworths went bust in 2008, Wilko took over many of its shops, becoming the high street's number one discounter. It had already begun closing some stores, with 15 shut last year. However, it faced increasing competition from more nimble discount rivals, including B&M, Home Bargains, Poundland and The Range. Wilko was also understood to have struggled to keep its shelves stocked coming out of Covid. The Wilkinsons family was also said to have been too slow to face up to its problems. A year ago, restructuring experts at Teneo advised then-chairwoman Lisa Wilkinson that without a shake-up, the retailer wo){kind=link}
Wilko fell into the hands of administrators today in a sad day for the high street – but what does its collapse mean for shoppers and why did the much-loved retailer fail?
Wilko collapsed into administration today, putting the future of 12,500 jobs and 400 shops at risk.
The company has struggled in recent years and is now in the hands of administrators at PricewaterhouseCoopers. But what exactly went wrong at Wilko and what does this mean for its shoppers?
Q: What is Wilko?
A: It was started by James Kemsey (JK) Wilkinson when he opened his first store Wilkinson Cash Store on Charnwood Street in Leicester in 1930. By the end of the Thirties, it had six shops.