Wilko Redundancies Paused After New Bids Received

GMB Union has written to Wilko staff, advising that redundancies have been paused in light of new bids for the business. The letter reads:

"We have just attended a formal consultation meeting with PWC in relation to the administration process. They have confirmed that all redundancies have been paused following new bids for the business that have emerged over the weekend. It must be stressed that at this stage there are no guarantees that these will lead to a positive outcome and that closures remain a strong possibility.

"We wish to assure members that GMB have been working non-stop to find a solution that protects our members’ jobs and will continue to do so. Whilst we cannot guarantee that we will get the solution we want, we are leaving no stone unturned as we fight for the future of your business."

PwC is understood to have received bids for part of the Wilko business by the following companies:

• B&M: 40 - 50 stores
• Pepco Group: 100 stores
• The Original Factory Shop: 10 stores
• The Range: online business
• Doug Putman, the owner of HMV: 350 stores
• M2 Capital: £90m bid for the business; has pledged to retain all employees' jobs for two years
• It has also been reported that Gordon Brothers, Alteri Investors and Opcapita have expressed an interest in the business. 

Source : Insight DIY, GMB Union 

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