Wilko goes into Administration

200sols said:
The issue is debt though really, refinancing large debts is going to cause many companies to fall.
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There's so much debt around.
Even as individuals we feel it on our mortgages. But at least most are paying down that debt.

So many big profitable corps run on debt.

There's a fair few stocks I follow.. And it's the debt that's causing them to crumble when comes to refinancing.
 
Nevakonaza said:
Did anyone manage to snag some good deals from their local wilkos?

Sad to see them going and totally feel for the staff,My local is pretty much empty now.
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I've been to wilko once in my life (usually it's an inner city shop) and I don't go into town for shopping.
I was searching high and low for 20kg of chicken feed as my local little farm shop I used may have closed.
This was actually in this administration phase for wilko, it's only because it was in the news I looked. Never came up on Google search.

Its rare that I go to these types of shops. It's usually for heavy+cheap stuff.

20kg of chicken feed is often 18 pounds shipped. But 10 pounds collected, such is the cost of delivery. Balls too. Get my balls from B&M
 
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PishY said:
Jesus another big company going!
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Hardly surprising really. You have the original owners/founder that works their socks off to get a business off the ground. It goes through a few generations in the family and their entitlement to suck every penny they can out of it. I bet James Wilkinson would be ashamed of his younger generation family for destroying his hard work and legacy.

koolpc said:
I would feel guilty going in there and grabbing 'bargains!'.....gutted for the staff....
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Yeah some of the public have been absolutely disgusting. There was a story on the news about the staff being abused when some members of public have gone in and given a load of abuse about the cost of stuff not having dropped enough. I applaud the staff for their self-restraint as in their shoes I would have swiftly told them to **** off.
 
It's a shame to see something which has been there for your entire life go under and disappear. Same as Woolworths, Allders, Debenhams and all the rest of them. Gutting for all the staff.
 
Went to a couple of stores last week to pick up some Wilko specific products, was quite sad seeing the stores so empty tbh. The staff seemed in good spirits as they were talking about the buyout so they must be devastated by this news.

I felt pretty guilty tbh, like picking the last bits of meat off a dying carcass.

That said, the prices of the bits we bought were 100% jacked up, we've been buying these products for years so know the prices well, everything was a bit more expensive.
 
It's a shame that those staff have lost their jobs, I reckon though some of those sites will get snapped by the likes of Poundstretcher, B&M or some other discount store so not all is lost in the medium term.

The biggest issue Wilko's had was it's stores were all (for the most part) in town centres where parking can be difficult and pricy and they were direct competition against other discount stores like B&M who have sites on commercial estates with ample free parking.
 
Freddie1980 said:
It's a shame that those staff have lost their jobs, I reckon though some of those sites will get snapped by the likes of Poundstretcher, B&M or some other discount store so not all is lost in the medium term.

The biggest issue Wilko's had was it's stores were all (for the most part) in town centres where parking can be difficult and pricy and they were direct competition against other discount stores like B&M who have sites on commercial estates with ample free parking.
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Take Cardiff. The last car park that was cheap to park has now shot up in price. I was never fond of going to town but now I never go.

I'll go to the out of town cinema with free parking.
I'll go down the bay where you can park for free if you can find street parking in the evening.

With roads changed for cycling, new 20mph limits and huge car parking fees there's really no incentive (worse, it's disincentivised) to go into town.

Not really sure how busy town centres are now, but they are really pushing those on the outskirts away
 
Lopéz said:
Having the ability to feel guilt or remorse at the situation does not necessarily mean you have to "vehemently hate" capitalist society. What a strange comment.
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Why on earth would you feel guilty about buying something on sale, unless you think the entire way the economy works is wrong?
 
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