Stamford will be losing a major store as Wilko confirms collapse

A home and garden retailer with a store in Stamford confirmed this morning, Thursday 10 August, that it has entered into administration. 

Last week, the company confirmed that it was facing collapse and filed an NOI. 

But today, CEO Mark Jackson, said in an open letter they had "no choice" but to enter into administration. 

CEO Mark Jackson has today confirmed that the company is entering into administration (Nub News).

He said: "Over the past six months we've been open with all our stakeholders including our team members that we've been considering options to accelerate a turnaround plan given that we needed to make significant changes to the way we operate to restore confidence and stabilise our business. 

"We left no stone unturned when it came to preserving this incredible business but must concede that with regret, we've no choice but to take the difficult decision to enter into administration.

"I'd like to take this opportunity on behalf of the directors and the Wilkinson family to thank all of our customers and our hardworking team members across our stores, logistics and support centre who remained loyal to wilko. 

"It's been an honour to have worked alongside you all as we fought to realise and to maximise the significant opportunities that existed to re-establish a profitable wilko."

The discount store has been struggling following the pandemic, cost-of-living crisis and fuel increases, and restricted buying powers of customers.

Wilko has announced that it will enter into administration. Image credit: Nub News.

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