Wilko administrators have confirmed redundancies at the retailer head office, distribution, and support centres will be taking place this week and next, following a last-minute bid by M2 Capital fell through.
The private equity firm placed an offer for the entire business, including its 400-store estate last Friday, however, failed PwC’s due diligence checks.
As a result, the administrators said they have confirmed the decision to make 269 employees at the retailer’s support centre in Worksop redundant, effective from Monday 4 September 2023.
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Further job cuts across the omnichannel retailers two distribution sites in Worksop and Newport are expected to be announced early next week, with a total of 1,300 jobs at risk, alongside 14 employees at Wilko’s subsidiary Kin Limited, Sky News reported.
In a statement, 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 last few very difficult weeks.
“We will continue to do all that we can to support staff through this period of difficult upheaval, and to maximise their opportunities for a rapid return to work.
“Our priority is to ensure that all team members affected by redundancy are assisted in processing their claims with immediate effect.
“We will be circulating correspondence to all staff as soon as possible which will outline the support available to complete redundancy payment forms. Advice and assistance will also be available from Job Centre Plus and other agencies.”
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