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.
ADVERTISEMENT
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.”
ADVERTISEMENT
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
Former Manchester City player Joey Barton found guilty of assaulting his wife
Danny Jones
Ex-footballer Joey Barton has officially been found guilty of assaulting his wife following his two-day trial in the capital this week.
Barton, who played for Manchester City, Newcastle United, Queens Park Rangers and a number of other clubs, was convicted at Westminster Magistrates’ Court on Tuesday, 25 March, following an incident back in June 2021.
The former midfielder left his wife, 37-year-old Georgia Barton (McNeil), with a bleeding nose and a bruise on her forehead following a drunken row at their home in London.
Barton is said to have grabbed and pushed her to the floor before kicking her in the head. Married in 2019, the two have four children and are thought to still be together.
The 42-year-old was still employed in professional football as the manager of Bristol Rovers at the time, but he was ultimately sacked in October 2023.
His wife called 999 at the time, telling police that he had hit her, but later retracted her statement.
Born in Huyton, Merseyside, the chief magistrate Paul Goldspring recognised that the one-time England has a history of violence.
He was given a 12-week suspended prison sentence, meaning he won’t serve time unless he commits another offence and has been ordered to pay £2,138.
Since dropping out of mainstream football, in particular, Barton has come under heavy criticism for allegations of racism, sexism and controversial right-wing politics; he even started an ‘anti-woke’ podcast called Common Sense with Joey Barton.
Back in June of last year, he was ordered to pay £35,000 in damages to settle a libel claim with presenter Jeremy Vine after a series of inflammatory comments made online.
The Radio 2 presenter sued Mr Barton earlier this year, after the former footballer wrote a series of posts suggesting Mr Vine had a sexual interest in children.
He also accused of threatening fellow former pro, Eni Aluko, after a torrent of abuse regarding her punditry online – the ex-England international even went so far as to say she no longer felt safe staying in the country.
Blackpool Pleasure Beach to close five iconic rides after £2.7m loss
Daisy Jackson
Blackpool Pleasure Beach has announced it’s closing five of its rides for the season, as well as reducing its opening hours, after reporting a pre-tax loss of £2.8m.
The beloved North West attraction has been pulling in families and thrill-seekers since it opened in 1896, famed for rides like the Big Dipper – a classic wooden rollercoaster – and The Big One.
Despite being such a popular tourist attraction, finances are biting for Blackpool Pleasure Beach, and it’s reported that five rides will close for the 2025 season.
The news comes almost exactly a year after it announced the heartbreaking closure of Grand Prix after 64 years.
The theme park has said that visitor numbers still haven’t fully recovered from the pandemic, leading to altered opening times to ‘maximise efficiency and cost’.
Five ‘less popular’ rides will be closed this year – Red Arrows Skyforce, Eddie Stobart Convoy, Alpine Rallye, Thompson Carousel, and Gallopers.
Blackpool Pleasure Beach said that 2025 is an ‘exciting but transformational’ year for the theme park.
In a statement, they said: “This year we’ve made the decision to close some of our smaller, less popular rides during the 2025 season: Eddie Stobart Convoy, Alpine Rallye, Thompson Carousel, Gallopers and Red Arrows Skyforce.
“The smaller rides were already being run on reduced opening times and our rider data showed that they have some of our lowest throughput, while Skyforce is 10 years old this year.
“After a great deal of thought, it was clear to us that the right decision is to make changes which will allow us to reinvest into a bigger and better future.”
Blackpool Pleasure Beach recently announced where some of that reinvestment is heading – and it’ll see an exciting new £8.72M ride opening.
The Gyro Swing will be the largest of its kind in the UK, leaving riders ‘completely weightless’ as they dangle from a spinning pendulum that swings 120 degrees and reaches 138 feet at its highest point.
Recent accounts show that Blackpool Pleasure Beach made a loss of £2.8m in the last financial year, compared to a £789k loss the year prior.
The Manc -
3rd August 2023 
