W.Com Realisations Limited (11100381): administration
- Status
- Administration ended
- Administration began
- 2023-08-10
- Administrators
- Zelf Hussain, Edward Williams, Jane Steer
- Administrators' firm
- PwC
- Formerly
- Wilko.Com Limited; Wilko Digital Limited; Catlegate 769 Limited
- Incorporated
- 2017-12-06
- Location
- Leeds
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Supply chain disruption
- Sustained trading losses
- Credit insurance / supplier credit withdrawn
- Weak consumer demand
- Competition / price pressure
- COVID-19
- Property / lease costs
- Rising costs / inflation
From the administrators' statement
‘Background
wilko was incorporated on 13 February 1941, having started to trade in the 1930s as a family business, running a hardware shop in Leicester. From inception, wilko grew to a national chain of over 400 stores, continuing to trade as a family run seller of hardware and homeware goods. wilko was the main trading entity in the Wider Group, employing 12,041 team members, holding all leases and freehold property for the business and holding over £105m of stock (with a further c.£10m of goods in transit).
wilko was the sponsoring employer for the Pension Scheme and a guarantor for the HUK facility. Barclays was also a secured lender to this entity.
Administrators' statement of proposals (2023-10-16) · Companies House register