Wilko shuts first stores as administration unfolds<br /><br />Wilko will shut its first group of shops on Tuesday as the dramatic collapse of the high street chain takes shape.<br /><br />The historic retailer will shut 24 stores across the UK in the first phase of closures, with hundreds of workers at the shops set for redundancy.<br /><br />It comes a day after administrators confirmed all the group’s remaining shop, warehouse and support centre workers are set to lose their jobs.<br /><br />Family-owned Wilko employed 12,500 staff and ran 400 shops before it hired administrators early last month after it came under pressure from weak consumer spending and debts to suppliers.<br /><br />All its stores have continued to trade in recent weeks as it has worked through remaining stock, with the retailer discounting thousands of products.<br /><br />Last week PwC confirmed that a number of shops would have to close for good after they were unable to secure a deal which would buy all of the firm’s shops.<br /><br />It later confirmed that 52 shops were earmarked for closure after they were not targeted by potential buyers for parts of the retail business.<br /><br />The first phase of closures will take place on Tuesday as a result, with 24 stores serving customers for their final day before shutting for good.<br /><br />A further 28 shops will shut after trading on Thursday.<br /><br />These closures will result in 1,016 redundancies, while administrators have also announced hundreds of other job cuts impacting warehouse and support centre staff.<br /><br />A further 124 shops will shut for good next week as the process continues, with the final 222 stores all due to close by early October.<br /><br />PwC said the firm’s warehouse will shut on Friday, with final support centre workers leaving in early October as operations completely unwind.<br /><br />Administrators are still in talks over deals to sell store properties, but are shutting down sites after failing to find a suitor who would take them on as Wilko shops and retain their staff.
