The British Independent Retailers Association has called the announcement that Wilko has formally collapsed into administration as a ‘travesty’ for the high street.
Bira, which works with more than 6,000 independent businesses of all sizes across the UK, expressed its sadness for another high street shop struggling and 12,000 jobs being put at risk.
Wilko, which was founded in the 1930s and has 400 stores across the country, has formally appointed PwC to lead the process.
Bira CEO Andrew Goodacre said the collapse of such a well-established retailer could have significant implications for the high street, and the retail industry as a whole.
“Wilko has been a fixture on the high street for years, providing customers with a range of products essential for daily life. Its plight serves as a stark reminder of the challenges faced by traditional retailers in an ever-evolving market environment. The repercussions of its collapse extend beyond the company itself, impacting suppliers, employees, and the vitality of the high street”
Bira CEO Andrew Goodacre
He commented: “Wilko has been a fixture on the high street for years, providing customers with a range of products essential for daily life. Its plight serves as a stark reminder of the challenges faced by traditional retailers in an ever-evolving market environment. The repercussions of its collapse extend beyond the company itself, impacting suppliers, employees, and the vitality of the high street.
“We are saddened to hear about this, and our thoughts are going out to all employees and their families now who are facing an uncertain future. It really is a travesty for the high street and for Wilko’s hard-working members of staff.
He added: “The collapse of Wilko is a stark reminder that the cost-of-living crisis affects all facets of the high street, from large retailers to small businesses. This event underscores the challenges faced by businesses of all sizes, and the urgent need for reform in business rates – a critical step towards ensuring the survival of our high streets.
“In light of this unfortunate event, we are calling for increased attention and support towards independent retailers, who are the lifeblood of local economies. Their unique character, personalised service, and intimate connections within communities, highlights the significance of nurturing the high street.
“The decline of a respected high street entity like Wilko underscores the need for a collective effort to preserve and uplift our local retailers. We must acknowledge that the high street landscape is undergoing a transformation, and it’s crucial that we rally around our independent businesses to ensure their longevity.”
