Former owner of Wilko has no plans to plug £70.2m pension black hole

The former owner of retail chain Wilko has said that it has no plans to plug the company’s huge pension deficit after its collapse.

The Financial Times reported over the weekend that Amalgamated Holdings Wilkinson Limited (AHWL), which is owned by the Wilkinson family, doesn’t “believe there is a liability for AHWL in respect to any [pension] deficit arising”.

The decision has been made after AHWL took legal advice over the £70.2m black hole, said the company.

The news comes at a time when the pension regulator is considering whether to take action over the shortfall at Wilko, which dramatically collapsed last August. Parts of the firm were sold off and it has made a limited return to the high street – as well as an online presence.

Last November, MPs sitting on the Business and Trade Committee heard that the former boss of collapsed budget retailer Wilko was “devastated” after her company dramatically failed, with the loss of thousands of jobs

The committee questioned former chair of Wilko Lisa Wilkinson, who is also a director of AHWL, about the potential role of her actions in the downfall of the company, suggesting a connection to personal greed.

In response, Wilkinson highlighted various challenges the company had encountered, such as high rents, the decline of the high street, and the rising cost of living, deflecting any responsibility for the company’s demise.

She then went on to express remorse, as she admitted to letting down both staff and customers, saying, “I am devastated.”

However, it took prompting for her to formally apologise.

Wilko entered administration in August 2023, resulting in the closure of 400 stores and the loss of over 12,000 jobs.