Canadian businessman who purchased HMV launching last-minute bid to save lots of Wilko

Aug 24, 2023 at 11:18 PM

Canadian businessman is launching a last-minute bid to save lots of stricken retailer Wilko, it’s understood.

Wilko tumbled into administration two weeks in the past, placing the way forward for its 400 retailers doubtful.

Administrators from PricewaterhouseCoopers (PwC) have sought presents from companies in an effort to save lots of jobs and shops.

Doug Putman, who purchased music retailer HMV in 2019, is about to make a suggestion which the BBC reported is unlikely to satisfy authorized necessities.

It comes after the GMB union, which represents greater than 3,000 of Wilko’s 12,500 employees, mentioned it had been informed the excessive road chain plans to shut shops subsequent week and can announce a raft of redundancies.

PwC mentioned this was “speculation”.

A spokesperson mentioned: “Since our appointment as administrators of Wilko we have worked relentlessly to secure a sale of the business, and talks are continuing with a number of parties.

“As administrators we’re intent on achieving the best outcome for everyone involved while preserving as many jobs as possible and adhering to our statutory duty to act in the best interests of the creditors as a whole.