Nottinghamshire-headquartered Wilko is in talks to land an emergency loan as cost pressures grow for retailers as we approach Christmas, according to The Times.
Wilko is said to be looking to alternative lenders for a £30 million injection, entering the talks after being unable to agree to an extension of its revolving credit facility, due to interest rate rises.
The news follows the business agreeing a sale and leaseback deal with DHL at its Nottinghamshire distribution centre to unlock £48 million.
The company said this would be just the first of a series of positive partnership benefits that would allow the business to further improve the proposition and the customer experience across its 402 stores and wilko.com.
At the time, Jerome Saint-Marc, wilko CEO, said: “It’s standard business practice to constantly review how we manage our finances. This property deal with DHL represents long-term stability for us and our team members and is the right response to the current market conditions and our priorities.
“We’re making smart choices to trade a business and allow us to continue to invest in our long-term transformational strategy. Wilko remains family owned and continues to focus on helping hard working families to be the best that they can be, delivering great value products to our customers.”
