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Last-minute rescue bid to save Wilko
A fresh rescue bid for the UK high street rental chain Wilko has been made by the private equity firm M2 Capital. The latest bid is said to be £90m and they have pledged to retain all employees' jobs for 2 years.
The budget homeware retailer fell into administration on 19 August 2023 putting 12,500 jobs and 400 stores at risk, after it failed to secure a rescue deal. This bid comes as Wilko launched an 'Administration Sale' within branches of the store across the country. This new offer is currently being considered by Administrators PricewaterhouseCoopers (PwC) Did you know? The retail chain Wilko was founded in 1930 when JK Wilkinson opened his 1st stop, in Leicester. It then grew to have 400 stores though the country. When Woolworths collapsed in late 2008, the Wilko group found itself stepping into many of the high street gaps that Woolworths once catered for. Send us your thoughts by clicking on the comment button below or Email our Newsroom at:- News24@SouthportReporter.Com, or send us a message on:- Mastodon, Facebook, or Twitter, as we would love to hear your views on this issue. COMMENTS (0)
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