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 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."
Featured Image - Aldi UK
Shopping
Retail giant Uniqlo delays opening date for new Leeds store
Clementine Hall
It's official, Uniqlo is making its way to Leeds. Well, it's about time isn't it?
You may remember last June that murmurings of Uniqlo opening in Leeds were happening.
The news spread after planning documents appeared for new ‘Uniqlo’ signage on the Store House building on Briggate.
We've been keeping our fingers crossed that the news was actually true, and it is.
Uniqlo themselves have confirmed that three new stores will be popping up across the UK over the next two years, with one of them being right here in Leeds.
Image: The Hoot Leeds
Their first store of the roll-out opened in Birmingham's Bullring, followed by a new store in Bristol this year.
Leeds was also meant to open this year, but unfortunately, Uniqlo has announced things are delayed and its opening will be pushed into 2027.
The Leeds store will be 1,100 square metres and will be located on Briggate in the old House of Fraser site.
CGI mockups from firms Thirty One Design and Ink Associates include the glass fronted store with Uniqlo’s signature red signage hanging above the door and off the building.
These will be made from sheet metal with a “sprayed finish” – sounds pretty swanky if you ask us.
Uniqlo UK COO Alessandro Dudech stated: "Uniqlo remains committed to strengthening its presence within the UK retail sector by expanding both our physical store network and ecommerce capabilities nationwide.
"As part of this strategic initiative, we look forward to introducing Uniqlo to the communities and visitors in the North of England, at the new Leeds location and simultaneously reaching customers in the South West in Bristol's Cabot Circus.".
Uniqlo is known for its affordable and minimalist clothing, stocking everything from raincoats and puffer jackets to jeans and a wide range of accessories.
We’ll keep you updated on the timeframe, as to be honest we’re just as excited as you are to be welcoming Uniqlo to the high street.
The Hoot -
3rd August 2023 
