Nottinghamshire retailer Wilko is considering entering into a company voluntary arrangement (CVA), according to reports by Bloomberg.
The CVA could help Wilko to renegotiate rents and agreements with creditors and potentially close shops, as the company looks to cut costs.
PwC is said to have been approached to explore restructuring options.
The news comes as Wilko looks to stabilise the business and accelerates its turnaround plans. In February (2023) the household and garden retailer formed a new senior leadership team and revealed a number of roles would be lost.
Wilko was set to cut 400 jobs.
Wilko is the UK’s 23rd biggest retailer, employing 16,000 team members. It operates 400 stores across the UK.
