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Wilko in Financial Difficulty and Could Face Administration

In the News

Sadly another major high street chain is struggling and could disappear. They are looking for investment and possible huge drops in rent to stay in business but going into administration is a real possibility.

My local store in Yeovil is in a part of the shopping centre which has the most empty shops so footfall in the store must be pretty bad.

I'm personally not that keen on Wilko nowadays. I used to find it quite competitive but pricing has been less competitive than its competitors I would say for the last 1 to 2 years. I personally prefer Home Bargains and would put B&M before Wilko nowadays.

Still I wouldn't like to see it go.

news.sky.com/story/wilko-owners-explore-sale-in-race-to-salvage-chains-future-12924086?dicbo=v2-pMBRlHT

BonzoBanana
a year ago
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JLouM

Wilko used to be much better than it is now. As you say the prices aren’t as good as they were. Would still be a shame to lose it though. We don’t have a B&M in Worthing. We’ll have nothing left soon.

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TheChimp

This is old news. Wilko has been in trouble for a while.

I used to shop a lot with them until they started charging for C&C. I think that they've changed it back now, but too late for me

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BonzoBanana

TheChimp I think there is a few retailers who are not in the best financial state but it's just waiting I guess for them to hit rock bottom financially. I noticed Mike Ashley's Frasier group has his finger in more pies recently. He now owns a part of Currys and a few other businesses.

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snoogans888

Not surprising really. The high street is dead. I went to my local town the other day and even the Poundland store had gone.

We ran out of shops to browse around as all that’s left is coffee shops, hairdressers and charity shops.

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BonzoBanana

snoogans888 Wow that sounds worse than Yeovil, what town is that?

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snoogans888

BonzoBanana it was Epsom. We hardly ever visit as we prefer Kingston as there are loads more shops.

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angiealexa17528

snoogans888 Same here in March

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Gromit22

Yeah Yeovil’s is massive, sadly the whole town is suffering, when I was a kid Yeovil or Dorchester was the place to shop before the out of town places were built and took over. I hope they can save Wilko as it become like Woolies where you’d always come out with something

It is a struggle with rent and rates and everything else rising

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BonzoBanana

Gromit22 It would be easy to sort with a tax change so more tax falls on online shopping and out of town retailers and less on the high street. High street business rates and rent is excessive. It just needs the government to do something so the high street can compete on prices.

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Leegp

BonzoBanana in theory that is possible to do, but can be easily avoid, if you base your company outside the uk.

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BonzoBanana

Leegp Amazon and ebay don't pay corporation tax in the UK of course and there isn't much we can do about that as we are in a free trade agreement with Europe where these companies have their offices, same situation with Apple. However I'm talking about business rates for warehouses, tax on couriers etc which moves more tax onto online sellers and less on bricks and mortar retail stores. It's easy to do. There is no reason why we can't move tax away from the high street. We can also have incentive schemes like lowering tax for shops that repair goods or refurbish them and make shops that carry some secondhand/reprocessed goods pay less tax. We can also make is so property owners who have unoccupied retail units pay tax on empty properties to motivate them to keep them occupied. They could do so by having indoor markets or charity shops occupying them. If we could make it much easier for people to sell their old products locally i.e. secondhand shops rather than use ebay again this would have huge benefits for the economy. Also shops allow for people with poor physical health to work so helps employment in that area which would take a huge burden off the state in benefits.

It's critical we return to a healthy high street for so many reasons. The current situation is madness to be honest. It's critical we return to a trading surplus and start paying off our huge debts.

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tumblespots

I liked Wilko and went there every time I went into town but they closed my local shop last Christmas so I haven't shopped there since then! I would be sorry to see it go altogether though.

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janphoenix51

I used Wilko a lot when I used to walk through Hillsborough,I started using the Meadowhall one when we are there & use the Hillsborough one if shopping around there..

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janphoenix51

I would be sad to see Wilko go,bought everything from Cat Collars to Cleaning Products there,got all my Simple Skin Care products half price every few months for our daughter. I bought my Original Source Shower Gels from there as they were on offer every few week..

Staff were always friendly & helpful too.

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eyeballkerry

Wilkinson is my go to for many projects and much prefer it to Home bargains and B&M plus it’s more convenient for me to get to. I would be very sad to see it go.

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BonzoBanana

eyeballkerry I prefer Home Bargains but not convenient for me as no Yeovil store. I have to travel to Street, Chard or Weymouth to get to one.

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eyeballkerry

BonzoBanana Its very rare I go in either Home bargains or B&M, I find them overcrowded, dirty and always have long queues, obviously this is because they are popular.

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BonzoBanana

eyeballkerry Overcrowding and long queues sounds like a business doing well. I think the only shop that I can think of locally like that is the Yeovil Tesco's. It's huge and seems to draw in a lot of people from the surrounding area. I can't think of many other stores in Yeovil like that. Definitely not B&M as when I go in there typically its perhaps only 20 people in the whole store including me and staff. That said I avoid weekend shopping.

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eyeballkerry

I think some stores look busy at the tills due to the fact they are understaffed and only have a couple of tills open. I think that is the worse thing about shopping, queuing.

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jms19

Echoing what others have said, it’s definitely sad but also not surprising. Unfortunately you can get most of the stuff they sell online for cheaper and it will be delivered

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Lynibis

The sad side of all this is we are becoming more isolated from the world around us. Before Covid (BC isn't that ironic) I would go into town at least once or twice a fortnight, now it is more like once every 6 months! I am not a lover of online shopping but have succumbed, buying groceries, shoes, gardening and home items even though I inwardly rebel at doing so. Human contact is minimal. But with the cost of fuel, car parking and even time wasted, online seems to make sense.

Everything can be done from home now and there no longer seems to be any purpose in life, especially if you live alone.

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Mango4

My local Wilko has been very poor for the past few years now and surprisingly is in a shopping centre that has seen increasing footfall in recent years I think the free parking helps, always low on stock with big gaps in the shelves, notice today they have removed some of the shelving from my local store now and spaced out free standing items , shame to see it go but simply not the store it was 4-5 years back

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dho123

Mango4 The store in Abergavenny is much the same, I used to shop there regularly but for the last few years it has been low stock levels, empty shelves and not such good prices. Very sad, the staff are always friendly in the main but they don’t appear as happy as they were,

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kate1310

This is sad to hear I do like wilko

Everytime I go in there isant that many people in will be ashame for another good store to close its the rates they charge far to much I worked in a store and the rates were shocking no wonder all the stores are closing

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Debs57

When Wilko's first started it offered different and cheaper than alot of stores, now home bargains etc offers the same deals but cheaper. Wilko's is a good store but prices have increased too much and often the shelves look empty.

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KirstyWhit29673

I do like to have a wander around now and again and I do prefer to get my painting & decorating stuff from them. I'd miss them for that if they went under but like a few others have said their prices aren't as competitive as Home Bargains. Where I live I have those 2 and a B&M all together so if I don't need DIY stuff it can be easy to ignore

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jam45

I wasn't aware of Wilko financial difficulty. Years ago before Covid, I could buy a bag full of reduced items in all departments for less than a pound. I am going there tomorrow and buy more than I need to buy to help save it.

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MargaretJe98202

My local Wilco is the one on Yeovil. We used to buy gardening pots, the really large ones, as they are super cheap. i still find a lot of their things cheap. Their compost was always super cheap and judging how good my plants looked it must be good. It’s no cheaper than most other places now. What put me off was them closing the rear entrance and you can’t park out the front. I hope they don’t close

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tinker411

Hmm, sadly not a surprise - if my local is anything to go by Wilko have been having 'stock issues' for months and months on certain items and what stock they do have is starting to be spread out Poundstretcher style, which may not be the best thing. I feel for the staff - the ones in my local are great, which is likely part of why it's so busy in there, along with it being a one stop shop for items you may struggle to get elsewhere; I had to get a new modem cable recently (for example) - after looking around, my options were Wilko or Amazon, and Wilko was cheaper!

I notice some people have be mentioned B&M and Home Bargains - hmm, maybe. My local Home Bargains is a well run operation to be fair, but it's ridiculously out of town and is actually quite small (compared to Wilko) so... yeah. As for B&M - my local is MASSIVE, but somewhat out of town, and is (I have to say) a bit grubby and overcrowded I find. Not helped by the fact it has only 4 tills total, and you have to be practically queuing halfway down the store for them to open more than the 1 till. The B&M in the next town over though is slap bang in the middle of town, huge, shelves bursting with stock, and has plenty of tills too, so if I need something specifically from B&M I tend to go to it instead.

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DazLee67

Thats a shame ! I love wilko online ...they have great deals ..hope they can be saved .

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barbarabanks300

I always bought at Wilko but their prices are not very good they had posters on the window saying 100s prices reduced but even with that they didn’t compare with Home Batgind

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Pinkspirit

Oh to have a Wilko, B&M or Home bargain, my high street is charity shops, coffee shops and barbers, it's a bus ride or couple of stops on the train for better selection of shops 😟

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Midnightflower

That's a shame our local wilko is always busy and I frequently pop in for household items. B&M and Homebargains are quite far out of town, so I don't use them as much.

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HEDGEHOGS

I had heard this some time last year and have been noticing lots of empty shelves in my local.

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Sugarbabe

You used to get some really good bargains in Wilko a few years ago. Sadly it has gone downhill since Covid. I have a Home Bargains and Dunelm near me and a new B&M store opening up in a few months. So I won’t need to travel into town to Wilko.

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Pjran

Wilko have great offers and they’ve brought back free click and collect. I recently stocked up on toilet rolls when a pack of Andrex was reduced from £3 to £1.25. I hope they start making a profit and save staff jobs.

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Leannexxx

Can't say I'm surprised with how much they have put stuff up my local one hardly has anything in there now I used to go in alot but don't anymore

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SaveMeSunday

That’s shame I love wilko they have great products at great prices

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BonzoBanana

When shelves start going empty that often means Wilko's supplier's have lost confidence in their ability to pay so they struggle to to get stock which then means less is sold and profits are less or losses are greater. These suppliers could be abroad and so might lack financial protection when a uk retailer goes under.

Anyway I hope they sort themselves out and keep going.

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BonzoBanana

Saw the news today about Wilko and it doesn't look good. 12,000 jobs could be lost but also jobs lost for nearby shops to Wilkos that will face a reduced footfall for their stores and a knock on effect to profits. It can be a domino effect. The government just seems to let the market dictate what happens and as yet has come up with no policies that rebalances taxation with more onto online businesses. Online is hugely wasteful of resources, extra packaging, additional journeys and much more waste and un-necessary purchases as people can't see the true quality of products until delivered. It makes no sense for the UK economy or global warming to just let high streets be destroyed. Countries like Japan have healthy local stores because that is where taxation is less and people are in the habit of buying close to their homes.

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jam45

BonzoBanana I agree with you 100%. The bottom line is the council's rents, etc. I got a lovely email from them/Wilko this morning thanking us for shopping there (i only shop in person).

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stevea808

I used to shop at Wilko quite a lot, but I don't find it that cheap anymore. So it's very rarely I buy anything from them.

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Latest000

Bad to hear such a news. After pandemic everything is going like this. Not a good sign

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SaveMeSunday

Be gutted if wilko closes its a good store and a shame for all those that work there

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Mango4

Unfortunately Wilko has been going downhill since Covid, prices increased, offers disappeared, and stock on the shelves starting getting less and less .Last winter our local store didn't even have any have heating on staff were in there with coats and gloves on. I hope I'm wrong but I think it's probably gone too far down now to be an attractive proposition for a buyer, it will probably end up being sold off in pieces to other retailers, with some sites closing altogether.

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janphoenix51

Mango4 ...One of my sister's neighbours Joy used to work at Wilkinsons years ago..

If Joy wanted an ornament for her house,she would break a bit off then buy the ornament for a few pence & glue it back together!!

True story,Joy worked in Wilkinsons next to Dixon Lane in the centre of Sheffield..

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BonzoBanana

janphoenix51 That's basically theft and if a lot of people get up to stuff like that the business becomes unprofitable and goes out of business..... The margins at retail nowadays aren't great.

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janphoenix51

BonzoBanana ...My sister & all our family were disgusted..

We want businesses to thrive,not go under!!

Joy's husband Irish Pete had the cheek to borrow my sister's ladders clean the neighbours windows & then tell her if she bought him 4 cans of Beer he would do her's!!

My sister soon took her ladders back & told Irish Pete to do one!!

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BonzoBanana

janphoenix51 It's pretty awful behaviour. I don't claim to be a saint I've watched a few pirate videos in my time etc and did shop lift as a young child but as an adult I would not shop lift. The figures are horrific with 8 million shop related thefts per year and close to a £billion in costs.

brc.org.uk/news/operations/brc-crime-survey-2023/#:~:text=Alongside%20the%20huge%20emotional%20and,of%20theft%20over%20the%20year.

Maybe if Wilko hadn't had to endure such thefts they would be profitable today and not going down the pan.

I guess online businesses have a much lower instance of theft which makes them more sustainable. Maybe shop thefts are part of the reason online is so successful. Although saying that I bought a bicycle wheel from Amazon and I got a crappy old bicycle wheel that clearly someone had returned instead of a new item and Amazon hadn't checked it before sending it out to me. However at least an online business can just stop orders to that address but retail stores can't prevent repeat offenders it seems.

The soft option on criminals doesn't work and as a country we need to get a lot more realistic rather than idealistic.

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eyeballkerry

I must admit it has gone downhill but I still shop there on a weekly basis. I do feel sorry for the staff, the ones in my nearest store have been there for years, the same ones.

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