Budget 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 the Manchester Arndale shopping complex, 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.
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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.”
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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.”
Featured image – Manchester Arndale
UK News
Remarkable Lake District rescue of dog missing for THREE WEEKS
Daisy Jackson
A dog who was missing for almost three WEEEKS in the Lake District has, miraculously, been rescued.
Little Teddy went missing on 2 August, disappearing from his owner on Helvellyn.
Volunteers from Keswick Mountain Rescue Team spent the following weeks searching for the scrappy dog, with one eventually hearing him barking from Dry Gill.
The poor dog had got stuck in the gill in a dangerous location that required a full team of seven to bring him to safety.
Remarkably, Teddy appeared to be uninjured, though he had lost quite a bit of weight after three weeks living wild on the fell.
His rescuers gave him a small amount of food before securing him in a rucksack and carrying him back to Swirls car park.
The whole rescue took around three and a half hours, when Teddy was reunited with his very relieved owner and taken to the vets.
Teddy making his way down from HelvellynTeddy the dog was part of a rescue mission in the Lake DistrictTeddy was rescued after three weeks missingCredit: Keswick Mountain Rescue
Keswick Mountain Rescue said: “The team are absolutely delighted to share this update, as the news of this missing dog had deeply affected so many people across our local community.
“A remarkable outcome after nearly three weeks on Helvellyn, and a huge well done to everyone who kept searching and never gave up on Teddy.”
The mountain rescue team is funded entirely through donations – you can use ‘Buy me a coffee’ to make a small donation HERE, or donate the normal way HERE.
Elbow get behind campaign to save Jodrell Bank from closure
Danny Jones
Manc band Elbow are among the latest to get behind the campaign to save Jodrell Bank Observatory from closing permanently.
The Greater Manchester natives famously played a sold-out gig at the important scientific and cultural landmark for a very special live album recording well over a decade ago, and know all too well the site’s national and, indeed, global heritage.
Choosing the Observatory and the rare chance to perform a show in the shadow of the world-renowned James Lovell Telescope, it probably remains one of their most significant standalone UK date ever.
With that in mind, the local lads have been left just as worried by the news of its impending closure as everyone else, and have therefore issued a fresh appeal to help keep it open.
Posting a timely statement on social media, the group wrote: “Jodrell Bank has long been close to elbow’s heart. In 2012, the band played beneath the Lovell Telescope for one of the most memorable shows in our history.
“The recent news that funding for the e-MERLIN radio telescope network is set to end in 2028 puts the future of the scientific work at Jodrell Bank under serious threat. It is a remarkable place, with an extraordinary history, and one that continues to play an important role in science, culture and education.”
In addition to reliving clips and images from the historic live set all the years later, they also pointed people towards their ‘elbow – Live at Jodrell Bank‘ album documentary, which has now been made available online for the very first time as part of wider efforts to raise awareness around the cause.
Directing people to key online resources shared by the institution and astrophysics centre itself following their unfortunate update late last month, the push to not only find the funding but sustain support for the facility continues to ramp up throughout the world of science, arts and industry.
For anyone who somehow missed the news – 2028 being the current deadline handed down as per budget cuts across the sector – concerned parties here in the North West and all over the country have since started petitioning to save Jodrell Bank Observatory from shutting down for good.
In addition to being described as a “huge blow” to the field by the Royal Astronomical Society (RAS), some have even gone so far as to describe the decision as a form of “vandalism” when it comes to research and British culture as a whole.
Having also served as the host venue for the annual bluedot Festival since 2016, the multi-genre science and arts celebration could soon be forced to find a new home.
The battle is far from over yet, and the community has time to rescue Jodrell Bank Observatory from its fate, but it will take lots of money and more notable public figures to make it happen.
Once again, you can do your bit by signing the petition mentioned above right HERE.
The Manc -
3rd August 2023 
