Deadline looms for rival retailers to buy-out Worksop-based Wilko

Four major bargain retailers are said to be 'interested in making a bid for Wilko' following its collapse into administration last week.

The high street chain has over 400 stores in the UK, 10 of which are in Scotland. There is a deadline of Wednesday, August 16, to save the store, which employs more than 12,500 people across the country.

Home Bargains, Poundland, B&M and The Range are all reportedly keen to snap up Wilko, although there's no guarantee it will save all the jobs.

Administrators at PricewaterhouseCoopers (PWC) have given potential buyers until close today (August 16) to make offers. Then, a shortlist for second-round bids will be created by Friday, August 18.

The Range, B&M and Poundland refused to comment to national news organisations, while Home Bargains did not respond to requests for comment.

CEO of Wilko Mark Jackson said the company had “no choice but to take the difficult decision to enter into administration“.

He said: ”Over the past six months Wilko has been very open that we’ve been considering options to accelerate a turnaround plan given that we needed to make significant changes to the way we operate to restore confidence and stabilise our business. We left no stone unturned when it came to preserving this incredible business.”

Mr Jackson said Wilko had received "indicative offers" but he added: "Without the surety of being able to complete the deal within the necessary time frame and given the cash position, we've been left with no choice but to take this unfortunate action."

The company employs around 12,000 people including an estimated 1,500 at its Worksop HQ and distribution centre, as well as stores on both Worksop and Retford.

Speaking about the impending closure, Bassetlaw District Council Leader Councillor James Naish said: “This is a tremendously sad day, both for Wilko staff, many of whom live in our district and Britain’s high streets, which face losing yet another major retailer.

“As a council, we are ready to support local employees wherever we can in what will be an incredibly difficult and unsettling time for them.”