The discount homeware and hardware chain said in a statement that while it had received indicative offers to help recapitalise, none of them were able to provide sufficient liquidity in the time needed – meaning it was set to call in administrators.
Wilko, which has around 400 stores across the UK, filed a notice of intention at the High Court on Thursday to appoint administrators.
“We’ll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business,” chief executive Mark Jackson said.
“We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.”
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