‘Second last-minute bid launched to save Wilko which could keep chain trading’
A second last-minute bid has been launched to save stricken retailer Wilko, it is claimed.
Administrators from PricewaterhouseCoopers (PwC) have sought offers from firms interested into buying the budget retailer and saving 400 stores and 12,000 jobs after it collapsed into administration two weeks ago.
Canadian businessman Doug Putman, who bought music retailer HMV in 2019, was believed to be making an offer – which does not meet legal requirements, according to reports.
Now a new bid worth £90 million has been made by restructuring specialist M2 Capita, which could keep the entire Wilko chain trading, according to The Guardian.
The GMB union said any bid that guarantees jobs “must be prioritised”.
Reacting to reports of a second bid, Andy Prendergast, GMB national secretary, said: “The devil is in the detail but any bid that guarantees jobs must be prioritised.
“Losing Wilko will not only put 12,500 people out of work across the country, but would also be another nail in the coffin of the high street.
“PWC must recognise that creditors are not the only people with a stake on this – working people’s livelihoods must be the priority.”
A spokesperson for PwC said: “Since our appointment as administrators of Wilko, we have worked relentlessly to secure a sale of the business, and talks are continuing with a number of parties.
“As administrators we’re intent on achieving the best outcome for everyone involved while preserving as many jobs as possible and adhering to our statutory duty to act in the best interests of the creditors as a whole.
“It would be inappropriate to comment on individual bidders or interested parties at this stage in the process.”
PcW previously described claims Mr Putman was making a bid was “speculation”,
Wilko fell into administration more than 90 years after the chain began as a single hardware shop in Leicester.
Founded by James Kemsey Wilkinson in 1930, the company’s first store opened on Charnwood Street under the Wilkinson Cash Stores brand.
Additional reporting by Press Association.
