Jobs fears as Wilko homeware chain on brink of collapse
Business / Thu 3rd Aug 2023 at 11:50am
UK homewares retailer Wilko has warned that it is on the brink of collapse because of mounting cost pressures reports the BBC.
The privately-owned company said it had filed a “notice of intention” to appoint administrators after failing to find enough investment.
Wilko employs some 12,000 people across 400 UK stores and is well-known for its value furnishings and accessories.
The store in Harlow is situated in the Harvey Centre, opposite Tesco.
Chief executive Mark Jackson said it would continue to talk with interested parties about options for the business.
He said the company was left with “no choice but to take this action”, but hopes to find a solution as quickly as possible to “preserve the business”.
Wilko did not confirm in the announcement on Thursday whether or not any jobs would be affected.
It added some offers had been received but none of them provided enough cash within the time needed.
Rising interest rates, higher energy costs and squeezed consumer spending have all been weighing on retailers in recent months.
Shops including furniture retailer Made.com and clothing group Joules collapsed into administration but were both offered rescue deals by High Street giant Next.
Just hope they can survive but if not the council who own the Harvey centre could redevelop the space to provide an outdoor market indoors. This was the original plan for the BHS site and really hope the Tories will pick up this idea. A market theme space would create extra footfall ,which would help other retailers. It’s a big space to fill and sincerity hope the current tenants survive.
Without detracting from the concept, has Alderman Durcan undertaken detailed market research to substantiate this proposition? Any potential use has to be economically viable and not based upon whim or vanity.
Answer is yes. It would be a mixture of fixed as well as pop up market stalls. Variety is the key
Bring back the outdoor market
Doubt an indoor market would be much of a success when small traders can access a larger market more cheaply with the likes of Amazon or eBay. Maybe better to let local charities use the space as many of them are looking for premises. It would also help with pooling of small local charity resources and access by the wider community.
Really Alderman Durcan? What would be the break even per Sq foot rent for your pop up market? Variety is fine, but viability isn't the key.
The former BHS store should be used for a variety of things to include a Christmas market, toy fairs, vintage cars exhibitions, other sorts of exhibitions showcasing places and things to do in Harlow, stamp fairs, local car retailers, street food festivals, the Pride event, public consultations held by the council, a public information point as seen in so many other towns and lots more, all designed to increase footfall to the town centre.
March of time? Progress? Anyone? Do not look at me for solutions but I cannot see this working out. Sorry to be so negative. Maybe someone could inform the council to stop chasing their losses with the Harvey Centre while they are at it.