Wilko Collapses Into Administration

[Jack Grey]

5 minutes ago, Irene Swaine said:

I am surprised that the Wakefield one is closing, the city centre there has a lot of footfall. Perhaps the tenancy agreement isn't viable. 

 

Southampton West Quay too

 

It's always busy when I've been there 

 

They may be getting rid of the stores they lease 

 

Because they own a lot of bricks and mortar stores

 

Those are the assets that can be striped 

Edited September 6, 2023 by Jack Grey

[geared]

58 minutes ago, Irene Swaine said:

I am surprised that the Wakefield one is closing, the city centre there has a lot of footfall. Perhaps the tenancy agreement isn't viable. 

 

That end of town is on the decline, more so since Trinity Walk was built with alot of the upmarket shops moving there.

 

Weirdly though, that Wilko actually has a car park, a problem that was pointed to about many other stores.

[Jack Grey]

It's all over.....

 

'The Wilko name will disappear from UK High Streets as a rescue deal for the chain fell through.

 

All of its 400 stores across the UK will close by early October, the GMB union has said.

 

It means redundancies now look likely for all 12,500 staff at the family-owned business.'

 

https://www.bbc.com/news/business-66743050

 

 

[Irene Swaine]

Just now, Jack Grey said:

It's all over.....

 

'The Wilko name will disappear from UK High Streets as a rescue deal for the chain fell through.

 

All of its 400 stores across the UK will close by early October, the GMB union has said.

 

It means redundancies now look likely for all 12,500 staff at the family-owned business.'

 

https://www.bbc.com/news/business-66743050

 

 

So, on Haymarket we will have the current B&M and another B&M a few doors down?! B&M offers a different range to Wilko. Wilko offers a more comprehensive range for decorating, paint, chizzles etc and an a more stable range of products, whereas B&M tends to rely on clearance availability.

[Jack Grey]

1 minute ago, Irene Swaine said:

So, on Haymarket we will have the current B&M and another B&M a few doors down?! B&M offers a different range to Wilko. Wilko offers a more comprehensive range for decorating, paint, chizzles etc and an a more stable range of products, whereas B&M tends to rely on clearance availability.

No it's collapsed

 

They couldn't get a buyer 

[HeHasRisen]

1 minute ago, Irene Swaine said:

So, on Haymarket we will have the current B&M and another B&M a few doors dow

Eh? Where have you read that? 

 

B&M were meant to be buying 50 or so of the 400 odd Wilko stores, I doubt they are (or were) buying the ones that are already next door to existing B&M stores. 

Edited September 11, 2023 by HeHasRisen

[Axe]

I am surprised it has taken so long to conclude that no company  are  seriously interested in buying the business as a going concern.   It is only certain sites that are an interest to rival companies in areas where they do not currently  have a presence.  At the end of the day the collapse of Wilko is good news to its rivals because they will gain previous Wilko customers.

Edited September 11, 2023 by Axe

[Irene Swaine]

4 minutes ago, HeHasRisen said:

Eh? Where have you read that? 

 

B&M were meant to be buying 50 or so of the 400 odd Wilko stores, I doubt they are (or were) buying the ones that are already next door to existing B&M stores. 

Haymarket wasn't on the list of ones to close and the article said B&M would be rebranding the remaining stores.

 

So Haymarket Wilko is a gonner then? I wonder what will happen with the post office. 

[HeHasRisen]

2 minutes ago, Irene Swaine said:

Haymarket wasn't on the list of ones to close

Hundreds weren't on the lists to close until today.  And as said B and M were only taking 50 on. The others were still trading whilst a buyer was being sought which is perfectly normal, what type of diploma do you have again? 

Edited September 11, 2023 by HeHasRisen

[Irene Swaine]

1 minute ago, HeHasRisen said:

Hundreds weren't on the lists to close until today.  And as said B and M were only taking 50 on. The others were still trading whilst a buyer was being sought which is perfectly normal, what type of diploma do you have again? 

No, it's not normal, if a company goes in to liquidation, the liquidator takes full control. 

 

So, there are no signifcant stores any further down from B&M on Haymarket from now on.