Wilko Shops Set To Close: A Shock To The High Street
The names of the Wilko shops set to close have been announced by the administrators. The closure of the shops will damage the high street and reduce footfall for other retailers.
The collapse of the popular chain, Wilko, has sent shockwaves through the retail industry. With the closure of 52 stores imminent, the future of the brand hangs in the balance.
Administrators, PwC, have named the shops that will be shutting their doors next week, leaving over 1,000 employees facing redundancy. The news comes as a devastating blow to the affected staff and the communities they serve.
Edward Williams, joint administrator at PwC, expressed the regrettable need for closures due to the absence of viable offers for the entire business. The loss of these stores will not only impact the dedicated team members who have served them tirelessly, but also the communities they have been an integral part of. The ripple effect of the closures will be felt far and wide.
“The loss of these stores will be felt not only by the team members who served them with such dedication, including through the uncertainty of recent weeks, but also the communities which they have been a part of,” said Mr Williams.
The closure of Wilko shops is a serious threat to the high street. Small Business owners in Skegness, Grimsby, Lincoln, Great Yarmouth, Boston, Manchester, and Liverpool, are already worried about the impact that the closure of Wilko shops will have on their business.
The High Street has suffered serious losses in the past few years, and with another major brand closing down it could have a serious impact on those who visit their local high street.
With more big named brands closing, it could put those small shops at risk if the footfall is reduced.
The List of Wilko Shops To Close
The 26 shops set to close on Tuesday, September 12th, include:
Acton, Aldershot, Barking, Bishop Auckland, Bletchley, Brownhills, Camberley, Cardiff Bay Retail Park, Falmouth, Harpurhey, Irvine, Liverpool Edge Lane, Llandudno, Lowestoft, Morley, Nelson, Port Talbot, Putney, Stafford, Tunbridge Wells, Wakefield, Weston-super-Mare, Westwood Cross, and Winsford.
On Thursday, September 14th, a further 28 stores will shut their doors. This list includes:
Ashford, Avonmeads, Banbury, Barrow in Furness, Basildon, Belle Vale, Burnley, Clydebank, Cortonwood, Dagenham, Dewsbury, Eccles, Folkestone, Great Yarmouth, Hammersmith, Huddersfield, Morriston, New Malden, North Shields, Queen Street Cardiff, Rhyl, Southampton-West Quay, St Austell, Stockport, Truro, Uttoxeter, Walsall, and Woking.
Please note that this list is subject to change, as discussions with potential buyers are ongoing. It is crucial to stay updated with the latest developments.
The closure of these stores will result in over 1,000 job losses, adding to the already extensive number of redundancies announced earlier this week. The impact on the affected employees cannot be understated, as they face an uncertain future in an increasingly competitive job market.
While the fate of the brand and its remaining 300 stores remains uncertain, rival company B&M has stepped in with a potential lifeline. B&M has agreed on a £13 million deal to acquire up to 51 of Wilko’s buildings. However, this deal does not guarantee the survival of the Wilko brand as a whole. The situation is further complicated by funding issues, which have stalled a larger rescue package proposed by HMV’s Doug Putman.
PwC remains committed to exploring all possible avenues to safeguard as many jobs as possible. Active discussions with interested parties continue, with the hope of finding buyers for different parts of the business. However, PwC has issued a warning that further store closures may regrettably be necessary.
Wilko, initially founded in 1930, grew to become one of Britain’s fastest-growing retailers by the 1990s. However, in recent years, the chain has faced increasingly fierce competition from rivals such as B&M, Poundland, and Home Bargains. The changing retail landscape and shifting consumer preferences have posed significant challenges for Wilko, leading to its financial struggles and eventual administration.
Retailers such as Dunelm and Toolstation have extended their support to Wilko employees, encouraging them to apply for roles within their own organizations. This show of solidarity within the retail community highlights the understanding of the difficulties faced by those affected by the closures.
The closure of 52 Wilko stores is a clear indication of the challenges faced by traditional brick-and-mortar retailers in today’s rapidly evolving market. As the fate of the remaining stores hangs in the balance, the retail industry as a whole must adapt and innovate to survive.
The impact on the affected employees and communities cannot be underestimated, and it is our collective responsibility to support them during this difficult time.
