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 you're a fan of a blind box, then you're going to love this.
Because very soon, we'll be able to get our hands on a range of quirky gifts, collectable toys and cute character merchandise as popular lifestyle brand KENJI prepares to open a new store at White Rose Shopping Centre.
And just in time for us to get stuck into the Christmas shopping.
KENJI brings together East Asian-inspired design, playful characters, and lifestyle products perfect for gifting and collecting.
The new White Rose store will invite guests to enter the world of their original and exclusive characters including Underverse, Caw-Ji, and Capybara Pon Pon, as well as browsing delightful collections including stationery, toys, accessories, and snacks.
The brand-new store has been created to be a playful and immersive space, with areas dedicated to blind box collectables, character capsule collections, keyrings, and accessories alongside a character statue photo spot.
Steven Foster, Centre Director at White Rose Shopping Centre, said: “We’re excited to welcome KENJI to our retail line-up at White Rose. The brand perfectly reflects the UK’s growing interest in East Asian pop culture, and makes getting to know new characters and collections fun, immersive, and accessible.
“We know our guests will enjoy KENJI’s unique new store, a perfect addition to White Rose in the run up to the festive season, and we look forward to sharing an opening date soon.”
Eddie Shepherd, Managing Director of Kenji, said: “We’re delighted to bring the KENJI brand and experience to Leeds White Rose, and feel our brand is a very complementary partner for the centre. Our UK retail expansion plan had earmarked the centre for a number of years, and we’re thrilled to be opening here before the end of the year.”
We're not sure of the exact opening date just yet, but we'll keep you updated as and when we know more.
Viral Yorkshire shop urges visitors to avoid weekends as huge queues form
Clementine Hall
A viral apothecary shop in Yorkshire has warned visitors about huge queues forming outside its doors, urging people to visit during the week if they want to avoid the crowds.
The Cabinet of Curiosities in Haworth has become a popular destination for those looking to really get into the autumn spirit.
And it seems like there's a lot of people who are looking to do so, as huge queues have been forming along the quaint cobbled streets of Haworth.
So much so, that owner Carolin had to issue a statement via The Cabinet of Curiosities Instagram page.
Images: The Hoot Leeds
It reads: "Weekends in Haworth have become particularly busy during Autumn and we are so grateful to all those lovely souls who have patiently queued to visit the shop.
"We are so honoured that you are happy to wait to come in to our magical apothecary shop, and I can’t quite believe it when I look out of the windows and see the queue snaking up the cobbles. Be assured that the queue does move fast and it makes for a far more pleasurable visit if there are fewer people in the shop at once.
Images: The Hoot Leeds
"If you would rather avoid the busy times it’s best to visit during the week if you can. Our shop is open 7 days a week 10-5, but to make sure all the shops in Haworth are open then Wednesday, Thursday and Friday are probably the best days to visit.
"We are doing our best to keep up with restocking and our fabulous workshop witches are busy blending, filling and packing every day to keep to keep the shelves stocked. We are humbled and forever grateful that you love our little shoppe, and hope you enjoy your potions and your visit to The Cabinet of Curiosities."
The Hoot -
3rd August 2023 
