Collapsed retailer Wilko will disappear from the high street by early October after a rescue deal for a large chunk of the discount chain fell through, leading to a likely 12,500 redundancies.
About 300 Wilko stores and its distribution centres will shut in the coming weeks, administrators at PwC confirmed on Monday, adding that, despite “extensive efforts” no part of the retail chain could be rescued in its current form.
Its demise will deal a further blow to hollowed-out high streets across the UK, which have to contend with empty lots as consumers opt for online purchases and out-of-town centres and as businesses wrestle with rising costs.
Read the full story on the Financial Times here.