Budget UK retailer Wilko has filed a notice of intent to appoint administrators in a move that leaves 12,000 jobs at risk.
The popular household and gardening chain, which has around 400 stores including one in Leeds city centre on Albion Street, has struggled in the tough economic climate.
Last year it borrowed £40m from restructuring specialist Hilco, cut jobs, and closed several stores after falling to a loss.
Wilko has reportedly struggled to pay suppliers and has had to pause some deliveries after a credit insurer withdrew cover for the retailer.
The company filed a notice of intent on Thursday that over the past few months, it had been working with advisory firm PricewaterhouseCoopers in an attempt to find a buyer in the hopes of freeing up more cash to keep the retail chain afloat.
Image: Manchester Arndale
Wilko chief executive Mark Jackson has confirmed that whilst there were ‘significant levels of interest’, the business has not yet received an offer.
He said:“We’ll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business.”
A notice of intention protects a business from creditors for 10 days in order to give it time to secure its finances, and does not necessarily mean that its stores will close.
The business needs to find more cash by the end of the month, however, and if the administration process is unsuccessful things may in turn lead to liquidation.
In a statement, Mark Jackso 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 to appoint administrators].”
“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.”
Aldi is giving Leedsshoppers the chance to take part in a real-life supermarket sweep for charity.
Building on the success of Aldi Scotland’s long-running initiative – which has raised more than £60,000 for charity over the past decade – Aldi is bringing its successful ‘Supermarket Sweep’ fundraiser to England and Wales for the first time, and shoppers from across Leeds and West Yorkshire will have the chance to take part for a brilliant cause.
10 winners will be selected to take part in the challenge at their local Aldi store, racing against the clock to fill their trolley with Aldi products in just five minutes.
Once the dash is complete, Aldi will donate the full value of each winning trolley to Teenage Cancer Trust, helping to support young people with cancer across the UK.
Unfamiliar with Supermarket Sweep the TV show? This is how it works.
Images: Aldi
The game consists of three teams of two, each with a clock that starts with 60 seconds on it. The teams then attempt to add as much time as possible to their clock by answering questions and riddles posed by the host. The time they accumulate determines how long they have in the ‘Big Sweep’ round to run around a studio mock-up of a supermarket, collecting shopping items.
The team with the shopping trolley filled with items of the most value wins the chance to enter the final ‘Super Sweep’ prize round.
Speaking as entries to the unique competition open this week, Julie Ashfield, who is the Chief Commercial Officer at Aldi UK, said: “Our customers are always incredibly supportive of the causes we champion, and we’re pleased to be bringing this much-loved fundraising initiative to England and Wales for the first time.
“We can’t wait to give shoppers the opportunity to put their trolley-dashing skills to the test, while helping to raise vital funds for Teenage Cancer Trust. Every pound raised will help the charity continue providing specialist care and support to young people with cancer when they need it most.”
The competition is now open, with entries closing at 23:59 on Tuesday 4 August.
To enter, you’ll simply need to email aldisupermarketsweep@aldi.co.uk with your details for the chance to win, and you can find all the terms and conditions here.
A new Korean beauty and skincare store is opening in Leeds city centre
Clementine Hall
If your skincare routine has been needing an upgrade, there's some good news heading to Trinity Leeds.
Trinity Leeds gearing up to welcome moida, a brand-new beauty retailer specialising in authentic Korean skincare, bringing some of the world's most sought-after K-beauty products to Leeds.
Named after the Korean word meaning 'to gather' or 'come together', moida is all about making Korean skincare easy to discover and accessible for everyone.
Inside the new store that will take over the old Claire's accessories site, shoppers can expect an extensive range of handpicked products from some of the biggest names in K-beauty, including Beauty of Joseon, Dr. Althea, TIRTIR, Medicube, Biodance, and more cult-favourite brands.
The collection has been curated by a team of Korean beauty experts with close links to Korea, meaning customers can expect everything from viral TikTok sensations to exclusive products that are often difficult to get hold of elsewhere in the UK.
Steven Foster, Centre Director at Trinity Leeds, said: "With Korean skincare still increasing in popularity, moida brings an exciting new concept to the centre. Offering guests viral products alongside everyday essentials, plus the chance to browse new brands in-store will be a fantastic experience.
"We know moida is going to be a brilliant addition for both existing fans of K-beauty and those keen to discover it for the first time."
It's the latest announcement following the recent launches of Lane7, Footasylum, LEGO, Jerk Junction, The Fragrance Shop and schuh at Trinity Leeds.
Opening this summer, we'll keep you updated when we know more about moida's opening.
The Hoot -
3rd August 2023 
