Wilko offer rejected by administrator – redundancies result

Wilko offer rejected by administrator – redundancies result

Aministrators from PwC who had received an offer from M2 Capital to acquire the whole Wilko business and retain its staff, have rejected the approach saying that it failed to pass the firm’s due diligence checks.

PwC will now proceed to make 269 of Wilko’s support centre staff redundant effective 4th September and this will be followed by a significant number of further redundancies for distribution centre staff.

PwC joint administrator Jane Steer said: “It’s with great sadness that we announce these redundancies. We’re incredibly grateful to these team members for the support and dedication they’ve shown to the company, particularly over the past few very difficult weeks.”

There has been no formal announcement concerning an earlier offer made by Doug Putman for a significant part of the business.


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