An estimated 12,000 jobs including many in the North East could be at risk as high street giant Wilko confirms it has filed intent to appoint administrators.
Popular brand Wilko have today (August 3) announced they have filed a notice of intent to appoint administrators, that may put thousands of jobs at risk.
The retailer sells everything from garden furniture to homeware and pet food and operates fourteen locations across the North East.
Read more: Wilko call in administrators putting 12,000 jobs at risk
Now, all 400 stores across the UK and the people who work in them could be under threat as bosses scramble to complete a deal.
Here is a list of all Wilko locations in the North East that now might be under threat:
Wilko Darlington, East Street
Wilko Thornaby, Vale House Pavillion Shopping Centre
Wilko Northallerton, 166 High Street
Wilko Middlesbrough, 17 Captain Cook Square
Wilko Redcar, 81 High Street
Wilko Newton Aycliffe, Aycliffe Shopping Centre
Wilko Bishop Auckland, Newgate Shopping Square
Wilko Hartlepool, Middleton Grange Shopping Centre
Wilko Peterlee, Castle Dene Shopping Centre
Wilko Durham, Arnison Shopping Centre
Wilko Chester-le-Street, Osborne Road
Wilko Washington, Washington Galleries
Wilko Sunderland, Fawcett Street
Wilko Newcastle Upon Tyne, Nun Street
Following the news, Wilko chief executive officer Mark Jackson said: “While we can confirm we’ve had a significant level of interest, including indicative offers that 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.
“Unfortunately, with this in mind, today we’re having to take the difficult decision to file a notice of intention.
“We’ll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business and will encourage those interested parties we’re in discussions with to move as fast as possible.
“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.”
Wilko was founded in 1930 from a single hardware store, and this year was given a £40 million lifeline from Hilco UK, which owns Homebase.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel