Reports have revealed that possible buyers of Wilko, which filed a notice of intention to appoint administrators last week, will need to invest up to £70m to rescue the Nottinghamshire retailer.
According to The Sunday Times, the business’s advisors, PwC, are in talks with a discount retailer and private equity firms as they look to secure a buyer to avoid Wilko’s collapse.
Of the £70m, roughly £25m to £30m is required to get stock moving through to Wilko stores and £40m is needed to pay off debts to Hilco. Hilco is said to remain willing to continue to lend to Wilko however.
The UK’s 23rd biggest retailer, Wilko employs 16,000 team members and operates 400 stores across the UK.
