Doug Putman’s wilko rescue deal, which could have saved thousands of jobs, has collapsed.
According to Sky News, the HMV owner has ended talks with administrators, PwC, for a deal to acquire around 100 stores. The smaller deal followed initial plans to take on around 300 shops.
Reports suggest the central costs associated with taking on wilko’s infrastructure is behind the collapse of the deal.
It is now thought that administrators will look to secure a transaction with the owner of Poundland for around 100 stores. Whether the employees from these shops will be part of the transaction is unclear.
The news comes after 52 wilko store closures were confirmed last week, leading to the redundancies of 1,016 staff. Meanwhile a further 299 redundancies were announced at two distribution centres in Worksop and Newport.
It was also revealed last week that B&M would be acquiring 51 wilko properties.
Wilko collapsed into administration last month (August), putting 12,000 jobs on the line.
The retailer opened its first store in Leicester 93 years ago, and has hosted its HQ in Nottinghamshire for the past half a century.
