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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
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Retail

Wilko bidders given two-day deadline

Bidders for collapsed budget retailer Wilko have a two-day deadline to table an offer.

Administrators from PricewaterhouseCoopers took over last Thursday after the family-owned retail chain failed to secure rescue financing.

The bid deadline has been moved forward to Wednesday due to financial concerns, said Sky News, with around 12,000 employees still unsure of their future.

Potential buyers include major retailers and financial groups, with interests ranging from the business to the brand.

Homebase owner Hilco, Alteri (Bensons for Beds owner), Gordon Brothers (Laura Ashley's owner), and OpCapita have been suggested as possible suitors.

An "administration sale" is underway at several stores, offering significant reductions, while restocking efforts are in progress.

Despite this, shoppers have reported empty shelves on social media.

Wilko's customer helplines closure has led to dissatisfaction, exacerbated by suspended online deliveries.

Founded in 1930, Wilko historically filled retail gaps left by Woolworths' collapse in 2008 and was a favourite among students looking to furnish their accommodation.

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