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![\"Wilko\"](\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/Wilko-high-street-ST-1536x1008-1-1024x672-1-696x457.jpeg\" "\\"Wilko")
<\/div>\nWilko is closing the doors on its last remaining high street stores for the final time following its collapse.<\/p>\n
The embattled 93-year-old discount retailer has been closing each of its 400 UK stores over the past month after falling into administration back in August.<\/p>\n
Forty-one stores remained open but will shutter on Sunday, with almost all of Wilko\u2019s 12,500 workers being made redundant.<\/p>\n
Subscribe to Retail Gazette for free<\/strong><\/h5>\nSign up\u00a0here\u00a0to g<\/span>et the latest news straight into your inbox each morning<\/span>\u00a0<\/span><\/strong><\/p>\nWilko, which was founded in the 1930s in Leicester had been struggling for some time and its cash flow issues became evident last year when it deferred supplier payments\u00a0and asked landlords to move to\u00a0monthly rents.<\/p>\n
It was dealt a major blow when credit insurers Allianz Trade and Atradius pulled cover in October.<\/p>\n
Last month The Range snapped up Wilko\u2019s brand, website and intellectual property for \u00a35m and while over 120 Wilko stores were sold to discount rivals including Poundland and B&M, as many as 12,000 high street and head office jobs are expected to be lost.<\/p>\n
Sky News reported that the retailer\u2019s unsecured creditors are now set to receive as little as 4p in the pound of the money they are owed, according to first estimates by administrators PwC.<\/p>\n
It emerged that Wilko owed \u00a3625m when it collapsed, including \u00a3548m to unsecured creditors.<\/p>\n
Wilko, which was founded in the 1930s in Leicester had been struggling for some time and its cash flow issues became evident last year when it deferred supplier payments\u00a0and asked landlords to move to\u00a0monthly rents.<\/p>\n
It was dealt a major blow when credit insurers Allianz Trade and Atradius pulled cover in October.<\/p>\n
Last month The Range snapped up Wilko\u2019s brand, website and intellectual property for \u00a35m and while over 120 Wilko stores were sold to discount rivals including Poundland and B&M, as many as 12,000 high street and head office jobs are expected to be lost.<\/p>\n
Sky News reported that the retailer\u2019s unsecured creditors are now set to receive as little as 4p in the pound of the money they are owed, according to first estimates by administrators PwC.<\/p>\n
It emerged that Wilko owed \u00a3625m when it collapsed, including \u00a3548m to unsecured creditors.<\/p>\n