Wilko has secured £40m in additional financing from Hilco in addition to the £48m it raised via the sale and leaseback of its distribution centre in Worksop.
The retailer with a 92 year history will now further its turnaround and transformation under its new CEO, Mark Jackson, who joined in December, and new chair and non-executive director Chris Howell. Natasha Leheji has also been appointed as a non-executive director and chair of audit and risk, replacing Chris Martin who stood down in November after completing a three-year term.
Lisa Wilkinson, a member of the founding family, said: “Our history is steeped in serving customers and communities going back to 1930. Right now, we’re making the necessary changes to restore confidence and safeguard the future of the business. That includes making sure we have the right leadership in place – one aligned team with the right expertise to deliver the retail experience our customers are demanding of us today.”