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.”
Topshop and its Joni jeans have launched in 32 John Lewis stores across the UK, and we're absolutely buzzing about it.
Okay before we get your hopes up, the absolutely mega Topshop on Briggate is still gone for good, but the fashion brand has officially launched in our local John Lewis and its enough to get us feeling very nostalgic.
It's all part of a nationwide partnership with John Lewis that brings Topshop and Topman back into physical retail on the British high street.
From today, Topshop will launch in 32 John Lewis stores and online, featuring a curated edit of its most in-demand and premium pieces.
Image: The Hoot Leeds
Topman will debut in just seven locations, including right here in Leeds - apart from Newcastle, it's the only northern site to do so.
So for those Leeds lads looking to level up their wardrobe, you can count yourself very lucky.
Michelle Wilson, Managing Director of Topshop, said: “Today is about making it easier for customers to access the Topshop and Topman pieces they love. From our cult denim to new‐season footwear, you can see it, feel it and take it home the same day. Partnering with John Lewis brings Topshop back to high streets across the UK with the level of service our customers expect.”
Images: The Hoot Leeds
Peter Ruis, Managing Director of John Lewis, added: “Topshop and Topman are brands with enormous cultural relevance, and their return to physical retail is something our customers are genuinely excited about. This partnership reflects our focus on bringing iconic names, strong style and compelling experiences into our stores.”
You can browse the Topman and Topshop collections online at John Lewis here.
Female-founded independent jewellery brand to open in Leeds’ Victoria Gate
Clementine Hall
Norfolk-based jewellery brand Lisa Angel is opening their first Yorkshire site right here in Leeds.
Jewellery and trinket lovers, this one's for you.
Lisa Angel, a female-founded jewellery and gifting brand will open the doors to its new store in Victoria Gate next month.
Shoppers can expect a wonderful range of jewellery, gifts, and accessories that have established a loyal following during more than twenty years of business.
Founded in 2004 by Lisa hand making jewellery which she sold at craft fairs local to her Norfolk home, the business has only gone from strength to strength since.
Image: Supplied
The brand is now a recognised part of the British high street landscape, boasting seven other stores across Norfolk, Suffolk, and the Midlands.
After opening two stores last year and three stores in 2024, Lisa Angel’s founder and Creative Director, Lisa, said: “As an independent retailer, we are thrilled to launch in a destination with such a reputation as Victoria Leeds.
"We believe retail should remain grounded in inspiration and discovery, and we look forward to bringing just that to the vibrant city of Leeds, in our first store in the north.”
Managing Director James Moody explained the significance to the business of opening a new store in a city as influential as Leeds: “We're incredibly excited to be opening our first northern showcase store in such a prestigious location.
"Victoria Leeds represents exactly the kind of vibrant retail destination where we can bring the full Lisa Angel experience to new customers. This is a significant milestone for us as we continue to grow our retail presence."
We'll keep you up to date when we know an opening date, but for now you can check out what to expect here.
The Hoot -
3rd August 2023 
