Wilko could be sold 'as early as next week' as 400 stores remain at risk of closure | The Sun

WILKO could be sold "as early as next week", The Sun understands, after it collapsed into administration following failed rescue talks.

It comes after sources revealed that Wilko rivals could be in line to snap up between 200 to 300 shops.

But today, The Sun can reveal that a sale could come as early as the end of next week.

It is not yet known if a buyer could save stores and the brand, or could just purchase the brick and mortar sites to use as their own.

Or, a deal could include no stores at all, instead buying up the stock or brand name.

But one major discount chain has already ruled itself out of any potential rescue bid.


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Sources at Poundstretcher told The Sun it has "no interest" in rescuing Wilko from administration.

The insider said that Wilko's business model is "unprofitable" and for that reason "has no interest whatsoever".

The bargain brand is now in the middle of expanding its presence on the high street and plans to open 50 new stores by the of the year.

But it's understood that it has no interest in moving into Wilko stores if they were to close.

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Blow for Wilko as big rival WON'T step in to save stores

Hilco Capital which invested £40million pounds in the business in January won't be bidding, the FT reports.

The restructuring and refinancing firm previously rescued Clintons and Homebase out of administration.

It also oversaw the liquidation process of both British Home Stores and Woolworths.

Discount supermarkets Aldi and Lidl are looking to open new locations around the country as they both expand.

But Dr Amna Khan, a senior lecturer in consumer behaviour and retailing at Manchester Metropolitan University, believes this wouldn't result in an offer for Wilko.

Dr Amna Khan, a senior lecturer in consumer behaviour and retailing at Manchester Metropolitan University said: "Wilkos, locations are often in areas that have higher costs to run than discount retailers would be interested in."

Rival discounters like B&M and Home Bargains have succeeded in out of town locations.

Home Bargains is among the retailers offering devastated Wilko staff a new role if they were to lose their jobs.

Most of Wilko's stores are located on the high street, where shoppers tend to buy less and rents are higher, making them less appealing to any potential buyer.

Wilko appointed administrators on Thursday with all control of the business being passed over to PricewaterhouseCoopers (PwC).

Across social media shoppers have been sharing their emotional tributes to the discounter, with many comparing it to the loss of Woolworths.

Chief Executive Officer, Mark Jackson, said yesterday that the company had "left no stone unturned" in a bid to save the chain.

In an emotional open letter to all staff and heartbroken shoppers, Mr Jackson thanked them for their support.

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Meanwhile, here is the full list of 400 Wilko stores at risk of closing.

For live updates keep an eye on our live blog.

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