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.”
If your skincare routine has been needing an upgrade, there's some good news waiting for you inside Trinity Leeds.
The shopping centre has just welcomed 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 has taken 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.
Moida K-Beauty has opened in Trinity Leeds. Credit: The Hoot Leeds
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.
Aldi has announced a ‘special’ 62-hour closure of all its 1,000+ stores across UK
Emily Sergeant
Aldi has confirmed it'll be closing the doors of all of its stores across the UK for 62 hours this year.
Christmas is always known to be one of the busiest periods of the year for the retail industry, and Boxing Day has a reputation for being the ultimate day for shopping deals and discounts in the UK - but this year, just like it has done on several years in the past, Aldi has made the decision to close all of its stores nationwide on this bank holiday.
The supermarket retailer says it wants to thank its colleagues 'for all their hard work' throughout the year by giving them some extra time to spend with their families.
This means that all Aldi stores will be closed on both 25 and 26 December.
That's not all though, as stores will also be closed on New Year’s Day, and will reopen once again on Saturday 2 January 2027.
Aldi has announced a 'special' 62-hour closure of all its UK stores / Credit: Aldi UK
Opening hours at different Aldi stores across the UK will vary in the lead-up to Christmas, so it's important to check the times for your local store, but the retailer has confirmed that most branches will be operating extended hours to 'ensure customers can stock up ahead of the big day'
In the interim period between Christmas and New Year, stores will reopen as usual on Sunday 27 through to Wednesday 30 December, with reduced hours also likely on Sunday and New Year's Eve.
Speaking on the decision to shut up shop for a full 62-hour period this festive season, Rachel Geary, who is the Communications Director at Aldi UK, said: "Christmas is a special time for our customers, but it is also one of the busiest periods of the year for our teams.
"Our colleagues work incredibly hard to ensure customers can pick up everything they need ahead of the big day.
"We never take that effort for granted. Closing our stores on Boxing Day is one way of saying thank you and giving colleagues a proper chance to rest, switch off and spend more time with the people closest to them."
The Hoot -
3rd August 2023 
