Top 10 stories of 2022: Number 5 – Wilko brings in advisors
The continued travails of Nottinghamshire value retailer Wilko have proved popular reading with our audience this year.
At number 5 in our Top 10 best-read stories of the last 12 months is another tale of woe for Wilko.
Back in October, it was reported that Wilko had brought in advisors from Teneo to help it with a combination of “soaring inflation, shipment delays and store closures” that had impacted its bottom line.
In January, Wilko launched a review of its store portfolio and has since closed 15 sites across the UK.
Its CEO Jerome Saint-Marc said at the time there was “no denying the way people shop with us and where they want to shop with us is changing.”
Earlier this year, the company also changed its payment terms in a move which reportedly angered suppliers.
It extended its payment period to “a minimum of 60 days” and said suppliers it was due to pay between 11 September and 8 October would have to wait until the next month.
