In the wake of last week’s announcement that Wilko is set to enter insolvency, the company has reportedly confirmed the closure of 14 stores across the UK. The news puts more than 12,000 jobs at risk as the retail giant grapples with mounting cash pressures.
Wilko’s Chief Executive Officer, Mark Jackson, revealed last week that the company had failed to secure a takeover to alleviate the financial strain and was left with no choice but to consider insolvency. The company filed a notice of intention to appoint administrators at the High Court on Thursday, August 3.
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