Wilko-Cedar Herald Index

Wilko Limited, formerly Wilkinson Cash Stores Limited, Wilkinson Hardware Stores, Limited, and Wilko Retail Limited, trading as wilko.com, is a British online store and high street retail chain owned by discount retailer The Range that sells homewares and household goods. The retail chain was founded in Leicester by James Kemsey Wilkinson in 1930, and remained in the ownership of the founding family before it went into administration.

In August 2023, the retail chain entered administration after being faced with financial and supply issues for some time, which put 12,500 jobs at risk. The Range acquired the Wilko brand, website and intellectual property the following month. The final stores closed on 8 October 2023. Wilko was relaunched as a online store and a brand of The Range on 12 October 2023.

Wilko

History

The first Wilkinson store was opened by James Kemsey Wilkinson and his fiancee Mary Cooper at 151 Charnwood Street, Leicester in 1930, and a second store was opened in Wigston Magna, near Leicester, in 1932. Nine branches were opened by 1939. The company was formally incorporated on 13 February 1941 as "Wilkinson Hardware Stores, Limited".

Wilko

The Beaconsfield store can be seen in the background of a scene in the film Brief Encounter (1945). By the end of the 1980s, the chain had 78 stores, increasing to over 150 by the time of the founder's death in 1997.

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The founder's son, Tony Wilkinson, joined the company as a branch manager in 1960 and succeeded his father as chairman in 1972, retiring in June 2005. Tony was succeeded by his daughter, Lisa Wilkinson, and his niece, Karin Swann.

Wilkinson opened its first Scottish outlet in Castle Douglas in January 2009.

In 2012, Wilkinson began rebranding its stores as Wilko, after its own brand products already marketed under the Wilko name, and by 2014, most stores had been rebranded. Prior to the rebranding, the abbreviation Wilko had been commonly used as an informal reference to the brand.

In 2014, Karin Swann sold her 50% holding in the business to Lisa, leaving Tony, his wife Christine and Lisa the sole owners of the company, and Lisa the chairman. Swann wanted to pursue other business interests and the decision did not represent a falling-out of the family.

In August 2017, Wilko began negotiations with the GMB trade union over the company's plan to cut 4,000 jobs. The board paid the family owners a £3 million dividend.

In March 2018, Wilko began to sell 285 of its own brand products in Dubai through Ace Hardware, marking the first time that Wilko had sold through another retailer.

In June 2020, Warpaint London, a cosmetics company, signed a deal with Wilko to sell their products in UK shops.

In January 2022, Wilko announced the closure of 15 stores with costly long leases. Wilko paid its owners, led by the Wilkinson family, a £3 million dividend again.

Administration

In January 2023, Wilko confirmed it had borrowed £40 million from the restructuring firm Hilco Capital. It followed this in February with plans to cut up to 400 jobs.

On 3 August 2023, Wilko announced its intention to appoint administrators as it was seeking a buyer following a period of difficult trading conditions. The company entered administration on 10 August. CEO Mark Jackson said management would work with administrators PwC to "preserve as many jobs as possible". A deadline for offers to acquire the business was set for 16 August 2023.

During the administration process, it was reported that its owners had taken £77 million out of the company in the preceding decade.

In September 2023, B&M bought 51 Wilko stores for £13 million. Poundland acquired 71 Wilko stores and stated it would prioritise the recruitment of former Wilko staff. The Range acquired the Wilko brand, website and intellectual property for an undisclosed sum. 36 workers from Wilko's digital team transferred over to The Range as part of the deal. The final stores closed on 8 October 2023.

Post-administration

The Wilko website was relaunched by The Range on 12 October 2023 and resumed home delivery. The Range started stocking Wilko brand products in its stores from 27 October 2023. It was announced on 27 October 2023 that five Wilko stores would open before Christmas ahead of a national roll-out of stores across Great Britain and Northern Ireland.