{"id":179602,"date":"2023-09-04T12:09:55","date_gmt":"2023-09-04T12:09:55","guid":{"rendered":"https:\/\/hotworldreport.com\/?p=179602"},"modified":"2023-09-04T12:09:55","modified_gmt":"2023-09-04T12:09:55","slug":"first-round-of-possibly-thousands-of-wilko-redundancies-begins-today","status":"publish","type":"post","link":"https:\/\/hotworldreport.com\/world-news\/first-round-of-possibly-thousands-of-wilko-redundancies-begins-today\/","title":{"rendered":"First round of possibly thousands of Wilko redundancies begins today"},"content":{"rendered":"<h2>First Wilko redundancies begin today: More than 1,000 staff at offices and warehouses are told they will lose their jobs as future of the high street giant hangs in the balance<\/h2>\n<ul>\n<li><strong>Is your job at Wilko at risk? Get in touch at hannah.mcdonald@mailonline.co.uk\u00a0<\/strong><\/li>\n<\/ul>\n<p>The first round of potentially thousands of layoffs at failed retailer Wilko is expected to start today, as staff at offices and warehouses are told they will lose their jobs.<\/p>\n<p>Administrators confirmed last week that 269 people in the company&#8217;s Worksop support centre would be having their last day with the business.<\/p>\n<p>Redundancies at the company&#8217;s Worksop and Newport warehouses are also due to start early this week. The administrators did not confirm how many warehouse staff would lose their jobs, but around 1,296 people are thought to work there.<\/p>\n<p>The 90-year-old retailer, which started out life as a single hardware store in Leicester in 1930, collapsed into administration on August 11, putting 12,500 jobs at risk, after its business was hit by rising costs and lackluster sales.\u00a0<\/p>\n<p>HMV tycoon\u00a0Doug Putman is leading a bid to rescue some of the retailer&#8217;s stores but needs to convince administrator PwC the takeover is feasible.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/04\/12\/75036535-12478461-image-a-1_1693825305536.jpg\" height=\"423\" width=\"634\"><\/p>\n<p>The first round of potentially thousands of layoffs at failed retailer Wilko is expected to start today, as staff at offices and warehouses are told they will lose their jobs<\/p>\n<p>The GMB union said last week it had asked for redundancies to start with volunteers.<\/p>\n<p>There are still hopes that the administrators, who work for PwC, will be able to hammer out a deal that could save thousands of jobs at Wilko stores across the country.<\/p>\n<p>They are reportedly in talks with a group of potential rescuers led by Doug Putman, the Canadian businessman who took over HMV in 2019.<\/p>\n<p>His business Sunrise Records bought the struggling music retailer just before the pandemic and has managed to turn it round to become profitable again.<\/p>\n<p>The bid that Mr Putman is representing will, it has been reported, save around 300 of Wilko&#8217;s 400 shops and save around 8,000 jobs of the 12,500 that Wilko previously employed \u2013 but only if it is successful.<\/p>\n<h3>READ MORE: The man who could step in to save Wilko: US property tycoon in last gasp effort to save stricken retailer\u00a0<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/04\/12\/74848119-12478461-Consortium_Michael_Flacksfounder_chairman_and_chief_exec_of_priv-a-3_1693825367167.jpg\" height=\"203\" width=\"274\"><\/p>\n<p>Consortium: Michael Flacksfounder, chairman and chief exec of private equity giant Flacks Group<\/p>\n<p>To be so, the businessman will need to convince the administrators at PwC who last week ruled out an offer from a private equity firm that had promised to save all Wilko jobs.<\/p>\n<p>The firm, called M2 Capital, appeared to miss a deadline to prove it had the means to go through with the deal on Wednesday afternoon.<\/p>\n<p>After that the administrators announced that redundancies would restart.<\/p>\n<p>The Sunday Times reported over the weekend that the deal led by Mr Putman had won backing from the Pension Protection Fund as well as other major creditors, including landlords and suppliers.<\/p>\n<p>Wilko had faced five years of declining turnover as high streets were placed under pressure, not least by the Covid-19 lockdowns.<\/p>\n<p>The discount retailer&#8217;s collapse into administration saw the firm begin to clear the shelves of its physical stores, as it ended all sales from its website.\u00a0<\/p>\n<p>Rival retailers Poundland, B&amp;M, The Range and Home Bargains were reportedly among the firms interested in buying out parts of Wilko&#8217;s business.\u00a0<\/p>\n<p>Talks to save the entirety of Wilko&#8217;s business subsequently collapsed with GMB warning on 23 August that the firm was set to start laying off the following week.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/04\/12\/75036539-12478461-image-a-4_1693825386683.jpg\" height=\"379\" width=\"634\"><\/p>\n<p>The 90-year-old retailer, which started out life as a single hardware store in Leicester in 1930, collapsed into administration on August 11, putting 12,500 jobs at risk, after its business was hit by rising costs and lackluster sales<\/p>\n<p>Hopes for Wilko&#8217;s future were, however, revived on August 25, after HMV owner Doug Putman submitted a new bid to save 350 of Wilko&#8217;s 400 stores and save 10,000 jobs in the process.\u00a0<\/p>\n<p>Then just days later, on August 27, Anglo-Canadian private equity fund M2 Capital placed a \u00a390million last-minute bid to save all 400.<\/p>\n<p>M2 Capital is a private equity firm with offices in Mayfair, which owns luxury hotel chain Como.\u00a0<\/p>\n<p>MailOnline understands PwC are continuing to assess a number of bids, including offers for which it has not yet received sufficient detail as to determine deliverability.\u00a0<\/p>\n<p>Source: <a href=\"https:\/\/www.dailymail.co.uk\/news\/article-12478461\/Redundancies-set-start-Wilko-offices-Monday-hopes-remain-shops.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>First Wilko redundancies begin today: More than 1,000 staff at offices and warehouses are told they will lose their jobs as future of the high street giant hangs in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":179601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>First round of possibly thousands of Wilko redundancies begins today - Hot World Report<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hotworldreport.com\/world-news\/first-round-of-possibly-thousands-of-wilko-redundancies-begins-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First round 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