Oxford: Wilko store in Cowley having 'administration sale'

Wilko in Cowley has launched a new sale offering further discounts on hundreds of products in its stores after the retailer tumbled into administration last week.

Signs in the door show the store in the Templars Square shopping centre having a sale with offers as high as 30 per cent off on items such as homeware, stationary and DIY.

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Last Friday (August 11), it was announced that Wilko launched the new sale across their stores as it continues to trade and work through existing and new stock.

The retailer went into administration on Thursday, August 10, putting the future of its 400 shops and 12,500 workers at risk.

The retailer’s chief executive Mark Jackson said it had received “a significant level of interest” but was “left with no choice but to take this unfortunate action” after being unable to close a solvent sale.

Administrators from PwC swiftly sought offers from potentially interested firms which could save jobs and stores.

It is understood that bidders were set a deadline of Wednesday to register their interest but the insolvency process is continuing as PwC assesses options for the retailer and its assets.

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Last week, a staff member in Wilko, in Bicester’s market square, said he was not allowed to speak with the press.

A spokesperson for Wilko said: "Wilko will continue to trade in all stores without any immediate redundancies as discussions with interested parties continue."

GMB, which has met the company and its administrators as part of the consultation process, indicated that a deal could be struck.

Andy Prendergast, GMB national secretary, said: “We can confirm there have been expressions of interest from organisations who are considering taking over at least some parts of the business.

“These are still at an early stage, but means there are genuine grounds for hope.

“Whilst this process continues staff will continue to be paid and kept on. All stores are continuing to trade, and deliveries of new stock will continue.”

The administration process means that bidders are not expected to take on all the company’s liabilities, such as costly debts, as part of any deal.

Rivals Poundland, B&M, The Range and Home Bargains are reportedly among the firms interested in snapping up the business or some parts, according to The Sun newspaper.

Private equity firms including Gordon Brothers and Alteri have also previously been linked to a deal.

The company was founded in Leicester by James Kemsey Wilkinson in 1930, and remains in the ownership of the founding family.