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More than 10,000 workers at British household goods retailer Wilko will lose their jobs after last-minute talks over a possible partial rescue of the company collapsed, interim administrator PricewaterhouseCoopers said on Monday.
Canadian businessman and owner of British music retailer HMV, Doug Putman, planned to purchase 200 “Wilko” stores, but negotiations with “PricewaterhouseCoopers” failed.
As a result, the executive announced on Monday that all Wilko stores and two distribution centers, as well as the customer support center, would begin to close.
All stores are expected to close at the beginning of October, leaving 9,100 people unemployed. Meanwhile, distribution centers are scheduled to close on Friday, leaving most of the remaining 886 employees unemployed. In addition, 210 employees of the customer support center will be laid off.
It has already been reported that the British retail company “B&M European Value Retail” has agreed to purchase 51 “Wilko” stores for 13 million pounds (15 million euros). All of these stores will close and reopen under the B&M brand.
Wilko’s placement into interim administration in August put around 12,500 jobs and 400 stores in the UK at risk.
Source: Tv Net
I am Joel Fitzgerald, a news website author for The News Dept. I have worked in the media and journalism industry for over 10 years and specialize in world news. My articles have been featured in prominent publications such as The New York Times and The Washington Post, where I am an expert contributor on global affairs.
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