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
A historic Stockport pub has officially become a listed building
Danny Jones
The Angel Inn pub in Stockport has officially become the thriving Greater Manchester borough’s latest listed building.
Being granted Grade II-listed status following an extensive visit and survey by Historic England (HE), Stockport Market Place’s Angel Inn may have had a lick of paint amidst the ‘Old Town Revival’ over the last decade or so, but the pub itself was erected back in the 16th century.
Reopened as one of the area’s most beloved boozers back in 2018, whilst still maintaining key fixtures and that feeling of authenticity, it harks back to the town’s Cheshire roots and taps into a deep vein of local culture.
The assessment, which was completed earlier this month, means that Angel Inn has been recognised as having special architectural or historic significance – i.e. the definition of a listed building.
Writing in a post on social media, the government-backed English heritage organisation detailed that while the inn predates the Early Modern/post-medieval period, the Angel‘s frame is comprised of wood from the 15th century.
But it gets even more interesting than that…
As well as being one of a select few surviving, traditional wattle-and-daub structures in the UK – nearby Bramall Hall being another (and a technique that had died out by the 18th century) – a close inspection of the internal floorboards unearthed something truly fascinating.
It just so happens that tests by HE proved that one particular plank of flooring “was cut from a tree alive in 1086, the year the Domesday Book was completed: the oldest government record held in The National Archives, commissioned by William the Conqueror.
How bloody cool is that?
It’s also worth noting that it’s genuinely a brilliant boozer and one of the most popular watering holes you’ll find in the town centre, promising a cosy interior, an intimate little outdoor area out back and serving plenty of regional ales.
You only have to glance at the exterior to clue into its age, let alone what there is to be found inside.Way back when.Credit: Historic England (handout)/Stockport Archives
Although they say it’s likely that the floorboard in question was originally cut for an earlier building situated in the same location, it still goes to show how old this particular North West settlement is.
“The name ‘Angel Inn’ dates from as early as 1769, though the site’s hospitality roots extend further, with references to “Cotterell’s inn” used for sequestrators’ meetings in the 1640s, who met to organise the confiscation of property of supporters of King Charles I during The English Civil War”, HE went on to add.
Angel Inn is one of only a handful of venues like this in Greater Manchester and Cheshire; safe to say a lot of time, effort and money are being put into preserving these links to the past.
Featured Images — The Manc Group/Historic England (handout)/Stockport Archives
UK News
Rio Ferdinand is stepping away from TNT Sports after more than a decade
Danny Jones
Manchester United legend and ex-England international Rio Ferdinand has announced he will be stepping away from TNT Sports, leaving more than a decade with the broadcaster.
Ferdinand has spent the best part of the last 10 years serving as a leading pundit and analyst, as well as hosting his own ‘Rio Meets’ online series – the interview format of which has been replicated on his YouTube channel.
However, after having been one of their main anchors both under the BT Sport and even more so since the inception of the rebranded TNT Sports Football umbrella, the 46-year-old has confirmed he has now quit their regular coverage following the Champions League final this weekend.
In a lengthy statement on social media, the ex-Man United defender, who also played for Leeds, West Ham, Bournemouth and QPR, described it as a “difficult decision.”
Taking time to thank the network for their “tremendous support” over the years, especially those “behind the scenes, whose work often goes unseen but has been essential to our success.”
The talented centre-back retired in May 2015 after more than 500 appearances and 81 national team caps, making an almost immediate switch into punditry and remaining a household name.
Rio has also remained a popular figure at Old Trafford and, indeed, across various parts of Manchester since leaving United in 2014.
For instance, his self-titled Foundation has carried out some truly transformational local outreach across various boroughs, as it has back in his home city of London.
Responding to the news, TNT Sports said nothing more than “Thanks for everything, Rio”; meanwhile, fellow former Red, Danny Simpson (who retired last year and also works as a pundit/presenter for MUTV) added: “You’re going to be missed, bro. Every time you’re on, you give us all the mad insight.”
However, he has promised he will remain in the media industry, continuing to work under the Rio Ferdinand Presents digital brand and pursuing “other business interests”.
With his ‘Rio Reacts’ and ‘Vibe with FIVE’ series regularly raking in millions of views, he might not be on the box during European nights but you’ll still be seeing plenty of him.
The Manc -
3rd August 2023 
