Wilko administrator PwC denies that it plans to close stores next week, but notes store closures and redundancies still likely, Business Reporter Michael Crossland reports.
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00:00 Hello I'm Michael Crosland, Business Reporter with the Yorkshire Post and we just have a
00:03 brief update today from High Street Retailer Wilco which fell into administration earlier
00:09 this month. PwC, the administrator of Wilco, has now denied that it plans to close stores
00:16 next week after GMB, which is the union which represents around 3,000 Wilco staff, claimed
00:22 it had been told the chain was set to close the majority of its stores next week and announced
00:26 a raft of redundancies as a result. PwC said that claims it was to close stores next week
00:32 were just speculation. Wilco entered administration earlier this month putting around 12,500 jobs
00:40 at risk across its 400 stores. Administrators were seeking a potential buyer for the business
00:46 with a deadline of last Wednesday for firms to declare interest. GMB union however announced
00:53 today that it had been told in a meeting there is no longer any prospect of the majority
00:58 of the business being saved. The BBC has also reported today PwC as saying that while discussions
01:05 continue with those interested in buying parts of the business, it's clear the nature of
01:10 this interest is not focused on the whole group and therefore it is likely that there
01:16 will be redundancies and store closures in the future. It should be noted that some parts
01:22 of the business may still be bought either individually or as part of packages. Rival
01:27 firms Poundland, B&M, The Range and Home Bargains have been reported to be among the businesses
01:33 interested in buying parts of Wilco. That's all we have on Wilco at the minute, I'm Michael
01:40 Crossland reporting for the Yorkshire Post.
01:41 (footsteps)