Wilko' s in financial trouble

[mr.bluesky]

So another high street chain in financial trouble and about to go into administration.  I'm somewhat surprised to see this company struggling,  where am I going to get my pick n mix and bird seed for my feathered friends now 

[scutty brown]

Spiritual successors to "old" Woolworths from the 1960s with a similar range of hardware and household items.
It didn't work for Woolies, no surprise a mimic couldn't make it work either

[alabama1]

So another high street chain in financial trouble and about to go into administration.  I'm somewhat surprised to see this company struggling,  where am I going to get my pick n mix and bird seed for my feathered friends now 

Aren't you getting mixed up with Woolworths ?

[PepeMAGA]

Sad, but not a surprise. I don't think they have a specific place in the market and generally the shops are in towns so you have to pay to go there, not like a supermarket. They would have been better doing a coop style shop and going into small towns as convenience stores

[WDFORTE]

B&M and Homebargains will be next.

[mr.bluesky]

Aren't you getting mixed up with Woolworths ?

No my local Wilko 's has a good pick n mix selection 👌

[RandomGuy99]

Sign of the times.  Too much competition.  Worrying times for their staff though and the high street in general.

That type of stuff I buy from Amazon.

[Blackpool Rock]

B&M and Homebargains will be next.

But the point they made on the news is that in these cash strapped times people are looking for cheap bargains so these discount stores should be doing good business

[Blackpool Rock]

Sign of the times.  Too much competition.  Worrying times for their staff though and the high street in general.

That type of stuff I buy from Amazon.

I'm not sure the staff will be especially concerned seeing as unemployment is so low and most businesses are struggling to actually recruit, should be able to walk straight into another comparable job or better I would have thought

The care sector is crying out for bum wipers 

[RandomGuy99]

I'm not sure the staff will be especially concerned seeing as unemployment is so low and most businesses are struggling to actually recruit, should be able to walk straight into another comparable job or better I would have thought

The care sector is crying out for bum wipers 

Retail isn't recruiting. The high street is shrinking.

It will provide an opportunity for some to broaden their horizons and tey something new. The older segment of their staff may struggle to find work though, but hopefully ageism is less of an issue now and businesses realise the skills and knowledge older workers can bring to a business.

[Jonestown]

Wilko shops in London have had large amounts of empty shelves for a couple of years now, it looked pretty obvious they were in some kind of trouble.

[RedKettle]

Spiritual successors to "old" Woolworths from the 1960s with a similar range of hardware and household items.
It didn't work for Woolies, no surprise a mimic couldn't make it work either

wilko started in 1930s so hardly mimic of Woolworths

[RedKettle]

B&M and Homebargains will be next.

Both seem to be in great shape financially so I doubt it.

[RandomGuy99]

Wilko shops in London have had large amounts of empty shelves for a couple of years now, it looked pretty obvious they were in some kind of trouble.

They were struggling to get supplies so they had to make advance payments to secure delivery and that is part of what got them to the situation they're in now.

[sir wanksalot]

High streets are set to become deserts in the next 10 years.

Retail just isn't viable in many cases due to high rents and consumer shopping habits.

Many companies who rent offices in the middle of towns will also review their options when their lease comes up.

Where I live the council are trying to replace retail with "urban living" but I'm not convinced it will work.

[Thephoenix]

Sad, but not a surprise. I don't think they have a specific place in the market and generally the shops are in towns so you have to pay to go there, not like a supermarket.

That's actually what I like about Wilco's
I know I can nip in for lots of odds and ends while I'm strolling around town.

But like most old folk, I have plenty of time and like many of my generation, enjoy strolling around town, but we're a dying breed which is why so many high street shops are closing.

[mr.bluesky]

That's actually what I like about Wilco's
I know I can nip in for lots of odds and ends while I'm strolling around town.

But like most old folk, I have plenty of time and like many of my generation, enjoy strolling around town, but we're a dying breed which is why so many high street shops are closing.

Exactly, where else could you buy a bicycle inner tube, fluffy towels ,batteries and screw hooks all in the same place 

[JontyR]

A well known name on many high street and town centre. Reducing footfall would be a significant issue, but Wilkos suffered as it was a place that you pop into for a few specific items rather than do a widespread shop. Other stores started to provide competition, not across the enitre Wilko range but of enough items and married with other more regular stuff.  B&M, Poundland etc.

Out of interest, has a brand or chain of stores ever just shut whilst still somewhat profitable? As if to say...we've had a good run but the writings on the wall and we'll just pull out now. Like retiring almost.

[conrod]

A well known name on many high street and town centre. Reducing footfall would be a significant issue, but Wilkos suffered as it was a place that you pop into for a few specific items rather than do a widespread shop. Other stores started to provide competition, not across the enitre Wilko range but of enough items and married with other more regular stuff.  B&M, Poundland etc.

Out of interest, has a brand or chain of stores ever just shut whilst still somewhat profitable? As if to say...we've had a good run but the writings on the wall and we'll just pull out now. Like retiring almost.

The one comes to my mind is C & A.

[RandomGuy99]

High streets are set to become deserts in the next 10 years.

Retail just isn't viable in many cases due to high rents and consumer shopping habits.

Many companies who rent offices in the middle of towns will also review their options when their lease comes up.

Where I live the council are trying to replace retail with "urban living" but I'm not convinced it will work.

And the high energy prices are killing them too A/C costs in the summer and heating and lighting costs in the winter plus staff costs. It must be hard to make a profit.  It's a pretty sad state of affair. I have to say I don't really visit a high street any more. Online is more convenient

[sparkus]

Wilko shops in London have had large amounts of empty shelves for a couple of years now, it looked pretty obvious they were in some kind of trouble.

Total dumps in general, plus no staff.

You'd think such chains would see an increase in sales during a cost of living crisis but their prices are either the same or not much cheaper than everywhere else.

[Jonestown]

Total dumps in general, plus no staff.

You'd think such chains would see an increase in sales during a cost of living crisis but their prices are either the same or not much cheaper than everywhere else.

I think their paint and decorating products were well regarded for their quality / price, and they were good for stationery and office supplies, when it came to kitchen stuff they were a cut price Robert Dyas.

[mr.bluesky]

Total dumps in general, plus no staff.

You'd think such chains would see an increase in sales during a cost of living crisis but their prices are either the same or not much cheaper than everywhere else.

Like a lot of shops they have few staff because of self scanning counters which will only except cards. A lot of older customers still like to pay with cash especially if they have only bought a few items. They have taken away the personal touch from shopping. 

[PumpDump]

The high street is suffering from rediculous council anticar policies. They are making it more and more difficult to find somewhere to park, to even drive at times with all these LTNs.

[Pillowtalk]

High streets are set to become deserts in the next 10 years.

Retail just isn't viable in many cases due to high rents and consumer shopping habits.

Many companies who rent offices in the middle of towns will also review their options when their lease comes up.

Where I live the council are trying to replace retail with "urban living" but I'm not convinced it will work.

Think it depends where you are. For many areas I agree - the town centre is dead of dying fast. In other places it seems to be enjoying reasonably good health, or is at least recovering. I visited Cambridge reasonably - looked pretty good to me me and Saffron Waldon too. Likewise most of Bishop's Stortford. Harlow, Luton, Romford (ugh) and many other places dying fast. Recently I had cause to walk down London's Bethnal Green Road - about 1 mile from Liverpool St. It seemed to be thriving but with mainly local businesses - very few chain stores.

[Thephoenix]

Think it depends where you are. For many areas I agree - the town centre is dead of dying fast. In other places it seems to be enjoying reasonably good health, or is at least recovering. I visited Cambridge reasonably - looked pretty good to me me and Saffron Waldon too. Likewise most of Bishop's Stortford. Harlow, Luton, Romford (ugh) and many other places dying fast. Recently I had cause to walk down London's Bethnal Green Road - about 1 mile from Liverpool St. It seemed to be thriving but with mainly local businesses - very few chain stores.

I agree.
Towns and cities near where I live vary considerably.

Liverpool and Chester seem to be much less affected by the high street decline, whereas Wrexham and Ellesmere Port are like ghost towns.

It's probably because there's a much higher footfall in places popular with tourists and which are pleasant places to visit anyway.

[Jumping Jack Flash]

They haven’t read the changing retail market conditions at all, like Woolworths before them it is likely to lead to their demise. The blame lies with the senior management team, a decade ago Wilco’s sales were larger than B&M’s, now they are one third of B&M’s. Sales have fallen below Poundland, Home Bargains and The Range. From what I see B&M and Home Bargains have broadly similar products to Wilco but are a lot cheaper.

You have to adapt to survive, adapt to people’s changing shopping habits, adapt to competition and so on. Wilco have not adapted and are about to pay a heavy price.

[GingerNuts]

They haven’t read the changing retail market conditions at all, like Woolworths before them it is likely to lead to their demise. The blame lies with the senior management team, a decade ago Wilco’s sales were larger than B&M’s, now they are one third of B&M’s. Sales have fallen below Poundland, Home Bargains and The Range. From what I see B&M and Home Bargains have broadly similar products to Wilco but are a lot cheaper.

You have to adapt to survive, adapt to people’s changing shopping habits, adapt to competition and so on. Wilco have not adapted and are about to pay a heavy price.

Your thoughts align with the BBC, eerily so.

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[petermisc]

The one comes to my mind is C & A.

Still going strong in Europe, they just pulled out of the UK.  When the likes of Asda started selling really cheap clothing, C&A were no longer the budget option, nor the quality option, caught in the middle.

Pretty much the same has happened to Wilko.  Undercut by the likes of B&M offering cheap tatt.  I wouldn't buy any tools from the likes of B&M, for example, as you know it would last about 6 minutes, whereas Wilko tools were usually of reasonable quality.

I will be sad to see Wilko go. Where will I go now for my paint, light bulbs, seeds, etc?  For those living outside the big cities, with the closures of Woolies, Bhs, etc it is becoming increasingly difficult to buy stuff for the home and garden of reasonable quality at reasonable prices.  On line, it is very difficult to judge the quality of what you are buying.  I suspect that is the reason the likes of Wayfair are taking off, although never having used them, they do come across as more like an online version of B&M than Wilko.

[DastardlyDick]

Exactly, where else could you buy a bicycle inner tube, fluffy towels ,batteries and screw hooks all in the same place 

The Range?

[mr.bluesky]

The Range?

Do they have as many outlets as Wilkos 

[DastardlyDick]

Do they have as many outlets as Wilkos 

Possibly not (I don't know) but their stores are huge - some even have a .small Iceland concession - no pic n mix though .

[daviemac]

Do they have as many outlets as Wilkos 

I think Wilko have about twice as many as The Range. The Range store nearest me has just had an Iceland section added and used to be a B&Q type store called 'No Frills' but I think that went bust.

[badsin]

The Wilko's in the town centre , near me is massive. They couldn't possibly keep the shelves full, as that is money lost in stock holding when 'just in time ' deliveries should ensure they don't sell out. However  it does make the shelves look bare.
Hopefully Wilko's will get through this, as they offer good value, opposed to just being cheap 

[daviemac]

The Wilko's in the town centre , near me is massive. They couldn't possibly keep the shelves full, as that is money lost in stock holding when 'just in time ' deliveries should ensure they don't sell out. However  it does make the shelves look bare.
Hopefully Wilko's will get through this, as they offer good value, opposed to just being cheap 

Wilko is not the only place to have bare shelves, I can't remember the last time my local Asda had every item in stock, bare shelves all round the store. All down to supply issues.

I agree about Wilko being good value, it would be a shame to lose it

[Harry Monk]

I guess it's a matter of managing to remain profitable across all of their outlets, as has been said Retail is struggling.
Less and less staff in all sectors reducing the "experience" when you shop.
John Lewis have cut management levels out and have less staff on the shop floor and their pay structure has changed loads in the last few years to reduce costs.

Majority of Supermarkets have less till staff and rely on self check out and no doubt have factored in wastage(theft).
I went into my M&S local today and no one on the tills and the store has just 3 self check outs. It's a Saturday lunchtime and thats how they staff it ? I had 2 items and could have walked out.

My nearest Wilko is in a shitty part of a shitty town so doubt it gets much random footfall, I like the products but guess it's not a go to store for most.

Still a shame and a scary indicator if it goes.

[Jonestown]

Prior to the pandemic & lockdown it was the sort of place you could go in, wander round and always find half a dozen things worth having and the bill would be minimal. Their Boxes of spectacle cleaning wipes were a real bargain at 99p.

[timsussex]

great place to buy a plastic bag of penny washers dirt cheap

[badsin]

I'm gonna make a special trip, buy some bicycle parts, and shaving gear. I would encourage others do the same.
Although rubbers are cheaper at home bargains 

[myothernameis]

Majority of Supermarkets have less till staff and rely on self check out and no doubt have factored in wastage(theft).
I went into my M&S local today and no one on the tills and the store has just 3 self check outs. It's a Saturday lunchtime and thats how they staff it ? I had 2 items and could have walked out.

I could see one or two of the big supermarkets, find them selfs in a dangerous position, and could easily go under

Private Equality firms are taking on debts, just to buy into some of our supermarket chains.  So Asda & Sainsbury currently are in hands of private equality firms.  And most recently the Issa brothers have sold some store leases to another private equality firm

The Private Equality firms have so much debt, cant help but think, this could go seriously wrong, maybe not right now, but if we remain in a recession, then in a few years

[snaitram99]

I could see one or two of the big supermarkets, find them selfs in a dangerous position, and could easily go under

Private Equality firms are taking on debts, just to buy into some of our supermarket chains.  So Asda & Sainsbury currently are in hands of private equality firms.  And most recently the Issa brothers have sold some store leases to another private equality firm

The Private Equality firms have so much debt, cant help but think, this could go seriously wrong, maybe not right now, but if we remain in a recession, then in a few years

Assuming you mean private equity, are you thinking of Morrison's rather than Sainsbury's? You can still buy shares in Sainsbury's whereas Morrison's was bought and taken private by Clayton Dubilier Rice.

[The_Don]

Both seem to be in great shape financially so I doubt it.

+ the range.


All 3 seem to be doing well.

Wilko shops in London have had large amounts of empty shelves for a couple of years now, it looked pretty obvious they were in some kind of trouble.

Been to a number of Wilko over the years and some stores seem to have lots of unused space.

[DastardlyDick]

I think the disruption to "just in time" deliveries has not done Wilko's any favours. I hope they survive their current priblems.

[daviemac]

Just announced the closure of 14 stores across the country.

[mr.bluesky]

Just announced the closure of 14 stores across the country.

Probably the tip of the iceberg before they all go under.

[GingerNuts]

Just announced the closure of 14 stores across the country.

14 new closures? The press seem to be listing 14 stores which closed last year.

[timsussex]

All of the local Wilkos are in city centres - dying city centres whereas B&Ms and Ranges are out of town.
If I have to drive and then pay to park £ or more just to spend £5 or less I aint going to bother
If I want to spend more £ on lots or something bigger then I want to be at the store not parked in a town centre car park

[daviemac]

14 new closures? The press seem to be listing 14 stores which closed last year.

Report I read is dated today?

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[GingerNuts]

Report I read is dated today?

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There's a fair amount of duplication with the 2022 list of closures.

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The store's closures are due to start in February with the Shipley, Bournemouth, Stockton and The Fort (Birmingham). The Scunthorpe store will close in March, followed by Narborough Road (Leicester) in April, and Grantham and Redditch in May.

In June Redditch, Rotherham and Skegness will close their doors, followed by Edmonton Green in July, Llanelli in August, Merthyr Tydfil in September and Cleethorpes in October.

The Fort, Birmingham definitely closed around February 2022.

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[daviemac]

There's a fair amount of duplication with the 2022 list of closures.

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The Fort, Birmingham definitely closed around February 2022.

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Probably all old news, not sure why it's being reported again.