Wilko continues to trade after falling into administration.
PriceWaterhouseCoopers how has the task of finding a buyer for the chain, something it and the chain’s management were unable to do while it was an advisor.
‘We must concede that with regret, we’ve no choice but to take the difficult decision to enter into administration,’ says Mark Jackson, Wilko chief executive.
Wilko had received a ‘significant level of interest’ which he says included ‘indicative offers that we believe would meet all our financial criteria to recapitalise the business. Without the surety of being able to complete the deal within the necessary time frame and given the cash position, we’ve been left with no choice but to take this unfortunate action.’
