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.”
Community Cutlery in Ilkley is a must-visit for any avid chef or homeware lover.
Nestled on Leeds Road in the somewhat 'trendy' area of the beautiful spa town of Ilkley, you'll find Community Cutlery - a speciality kitchenware shop that's been standing proudly for five years.
Run by Gaz Heaton who really, really knows his stuff - here you'll find the largest selection of Japanese knives outside of London as well as the most beautiful collection of kitchenware you've ever seen.
Everything is tried and tested, from the teapots to the matcha mixing bowls, so you know you're getting the very best of the best whatever you decide to take home.
Images: The Hoot Leeds
Of course, buying kitchen knives can be daunting at first, but Gaz is so welcoming and makes you feel right at home.
He'll ask you a few questions, what your knife's main purpose will be, what you're used to currently, and from then you'll be able to chop a few carrots on the Community Cutlery chopping board to see which one takes your fancy.
Once you've taken your knife home you can come back instore for their knife sharpening service, to make sure it stays sharp and in perfect condition.
Images: The Hoot Leeds
It's a shop that proves that the British high street in fact is not dead just yet, with customers flocking from far and wide to visit the shop for Gaz's expertise and incredible selection of products.
You can seriously get everything here, from aesthetically pleasing pepper mills and adorable butter dishes to handcrafted chopping boards and Japanese ceramics.
Image: The Hoot Leeds
They've even got Community Cutlery merch which would make the perfect present, in fact anything in that Aladdin's cave would.
You can find out more about Community Cutlery here.
Lucy & Yak is turning its stores into a dedicated Preloved hub for the entire weekend
Clementine Hall
Lucy & Yak is turning its Sheffield store into a dedicated PreLoved hub for the entire weekend.
If you're all about celebrating second-hand shopping, then this is the event for you.
Since 2023, Lucy & Yak has kept a more than 42,000 Yaks in circulation through its incredible PreLoved scheme.
The concept is simple, customers bring in and return their old Yaks, and once processed receive a money-off voucher to put towards their next purchase. So everyone's a winner, basically.
Images: The Sheff
And don't worry if your old pieces are damaged, as these are lovingly repaired or upcycled by their talented Re:Yak Studio team in Yorkshire before being sold on in-store to find their new homes.
This bank holiday weekend, from Saturday 23 to Monday 25 May, the entire Sheffield store will be transformed with a huge PreLoved section for you to browse.
Images: The Sheff
It's a unique opportunity to shop your favourite second-hand Lucy & Yak pieces, with special one-off items and old gems for you to get your hands on. Get in.
The special event is the latest milestone in Lucy & Yak’s broader commitment to circularity, which also includes its (Im)Perfect sales, a Facebook Marketplace for buying, selling and swapping, and Re:Yak workshops held throughout the year - community sessions that help people mend and customise their clothing.
Images: The Sheff
Lydia Coley, Managing Director at Lucy & Yak said: “We’re so excited to bring the PreLoved Weekender to our stores this May. Lucy & Yak has always been built around community, creativity and doing things a little differently, and PreLoved brings all of that together.
"We're incredibly proud of keeping over 42,000 Yaks in circulation. Every second-hand Yak has a story, and this weekend is about helping those pieces find their next home in a fun way”
So if you're looking for a fresh new colourful wardrobe for the summer, get yourself to Lucy & Yak this weekend to shop smart.
The Hoot -
3rd August 2023 
