GMB: “Grounds for hope” at Wilko as interested parties circle
There is “genuine grounds for hope” at Wilko as discussions continue with a number of interested parties, the GMB union has said.
Members of the union met with Wilko’s administrators PwC as part of the consultation process to discuss the future of the ailing retailer.
GMB National Secretary Andy Prendergast confirmed “expressions of interest from organisations who are considering taking over at least some parts of the business”.
“These are still at an early stage, but means there are genuine grounds for hope”, he added.
GMB also confirmed that during the administration process staff will continue to be paid and kept on while stores will remain open with new stock deliveries coming in.
Wilko collapsed into administration earlier this month, putting the futures of 12,000 jobs and over 400 stores at risk.
Earlier this week, it was reported that PwC had given interested parties until Wednesday 16 July to submit any initial offers.
The family-owned value retailer had been working with PwC for many months in search of new investment, and had been looking to finalise a Company Voluntary Agreement to allow it to cut its rents at a number of its stores.
Last week, Wilko chef executive Mark Jackson said the retailer’s management had left “no stone unturned” in its efforts to rescue the business.
As recently as late July, a spokesperson for Wilko had dismissed talks of administration as “unfounded”.