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British household goods discount retailer Wilko said it had fallen into administration on Thursday, putting its 400 stores and 12,500 jobs in danger if a buyer can’t be found.
Wilko.com Limited (trading as Wilko) is a British home improvement and homeware retailer. It was founded as Wilkinson's by James Kemsey Wilkinson and Mary Cooper in 1930, opening its first store as a hardware retailer in Leicester .
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James Kemsey "JK" Wilkinson (6 December 1906 – 18 December 1997) was an English businessman, the founder of the high street chain Wilko. In 2014, it was reported that Wilko had 372 stores, 23,000 employees and annual revenues of £1.5 billion. [2] Wilko collapsed into administration, on 10 August 2023. [3]
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]
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