web analytics
28.1 C
Karachi
Sunday, August 10, 2025
- Advertisement -

All of retailer’s stores to shut, risking 12,500 jobs

TOP NEWS

Reuters
Reuters
Reuters is an international news organisation owned by Thomson Reuters

Failed retailer Wilko will disappear from British high streets next month, as its entire chain of 400 homeware stores close, with the likely loss of all 12,500 jobs, a trade union said on Monday.

The GMB union said, citing Wilko’s administrators, that the stores were set to close by early October, while two distribution centres will close on Friday next week.

“This means that redundancy is now likely for all 12,500 workers,” GMB added.

The news follows hopes in recent weeks of a deal being reached to buy the retailer, which collapsed last month after suffering a cash squeeze following a downturn in trading.

 

View this post on Instagram

 

A post shared by wilko (@lovewilko)

A recent bid by Canadian businessman Doug Putman, the owner of HMV music stores, to buy a majority of Wilko failed due to complications over costs, British media reported.

Wilko retailer

Wilko, which started as hardware store in 1930 in Leicester, central England, succumbed to Britain’s tougher economic environment and cost-of-living crisis, grappling with high inflation and a series of interest rate rises.

“This isn’t a tragedy without cause,” GMB National Officer Nadine Houghton said. “Wilko should have thrived in a bargain retail sector that is otherwise strong, but it was run into the ground by the business owners.”

Wilko’s administrators, PwC, did not immediately respond to a request for comment.

- Advertisement -
- Advertisement -
 

Trending

POLL

After Pakistan's crushing response. Will India ever resort to cowardly attacks like Operation Sindoor again?

- Advertisement -
 

MORE STORIES