Gogglebox star Izzi Warner says she is devastated, or 'devvoed' to be precise, following the news that high street retailer Wilko is set to file for administration.
It could spell the closure for 400 stores nationwide and see 12,000 employees lose their jobs.The company filed a Notice of Intention (NOI) to appoint administrators just weeks after the owners were said to be considering selling a controlling stake.
On Thursday, 3 August, CEO Mark Jackson explained that the chain was struggling to find a buyer quick enough which had ramped up the "mounting cash pressures" it was facing.
He added the firm had no other choice but take the drastic action. In a statement, he 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." Wilko is not yet in administration but board members intend to file for administration in the future.The good news is that this means the beloved retailer could be rescued from collapse.
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