Wilko shoppers say it's 'so sad' as chain plans to appoint administrators

Roughly 12,000 jobs have been put at risk at Wilko after the chain said it plans to appoint administrators.

The retailer's CEO, Mark Jackson, confirmed on Thursday (August 3) that the business was finding difficulty getting a buyer to provide the "necessary liquidity". It comes after reports were released earlier this year that suggested the retail chain was considering selling the company to secure its future.

Mark Jackson said: "While we can confirm we’ve had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present. Unfortunately, with this in mind, today we’re having to take the difficult decision to file a NOI."

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The statement continued: "We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable wilko and maximise the significant opportunities that we know exist. We’re a £1.2billion turnover business with strong presence on UK high streets through our 400 stores, online at wilko.com and through our great value wilko own brand products, serving local communities with their everyday household and garden needs for over 90 years.

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"That said, while we’ll continue to progress these indicative offers, without the surety of a recapitalisation being able to be completed within the necessary time frame and given the cash position, we’ve been left with no choice but to take this action."

Fans of the chain which had become known for offering a wide range of items at a bargain