WILKINSON Hardware Stores Ltd, wilko Ltd and wilko.com Ltd- have all gone into administration.
The group, which has a Wilko store on Worcester High Street, has appointed PwC has been appointed as joint administrators.
However in the meantime all stores will continue trading.
Wilko is a British high-street retail chain founded in 1930 which sells homeware and household goods.
The Group, with headquarters in Worksop, Nottinghamshire, has just under 100 stores across the Midlands, including the ones in Worcester, Redditch and Droitwich, with a total of 400 stores across the UK and approximately 12,500 employees.
The Group has been hit by challenging trading conditions, both throughout the pandemic and more recently as it has felt the impact of the cost of living crisis, resulting in increasing cashflow pressure and a deterioration in trading.
Initially, wilko will continue to trade all stores without any immediate redundancies as discussions with interested parties continue.
If buyers for some or all of the group are not found, it is likely that store closures and redundancies will follow.
Eddie Williams, joint administrator and PwC partner, said: “It is incredibly sad that a well loved, family business that has been on the high street for over 90 years has had to go into administration today. I know the management team has left no stone unturned in trying to save the business.
“wilko is a household name both nationally and in the Midlands, having been established in Leicester and with head offices in Worksop. High street retailers are facing a number of well-documented challenges and wilko has been significantly impacted by the headwinds facing the industry including inflationary pressure and rising interest rates.
“wilko has been a staple of many British high streets for decades. We know that the appointment of administrators will be an unsettling development for everyone involved with the business – particularly its committed team members – and the communities it serves.
“As administrators we will continue to engage with parties who may be interested in acquiring all or part of the companies. Stores will trade as normal and staff will continue to be paid while the company is in administration.”
