This ad will be closed automatically in X seconds.

Wilko unsecured creditors set for big loss

The unsecured creditors of collapsed retail chain, Wilko, are likely to recover between 4% and 8% of their debts, Sky News has reported.

The Pension Protection Fund is expected to be repaid in full for the £20m it is owed as a secured creditors, according to first estimates by administrators, PwC. Barclays and Hilco UK are presumed to also be repaid in full the £2.4m and £39.9m they are owed.

The proposals also provide a detailed timeline of the events leading to the retailer’s collapse last month. Wilko had been hit by inflationary pressures and supply issues, leading to it seeking a company voluntary arrangement to help trigger rent reductions across hundreds of the stores.

The Wilkinson family, which controlled the company and had extracted millions of pounds from the retail business through dividend payments, are now facing calls to hand back some of the money.

The Pensions Regulator announced it has launched an investigation into the payouts following pressure for shareholders to address the £56m deficit in the pension fund.


Copy of Progressive Preschool featured image (32)
Progressive Housewares caught up with Christophe Leblan, managing director at Groupe Seb UK, to find out about the year so far and plans for the second half....
Copy of Progressive Preschool featured image (31)
Delve a little deeper into German gia Global Honoree, Kustermann....
Copy of Progressive Preschool featured image (30)
Dexam has issued its 2024 new lines catalogue and price list this week. ...
Copy of Progressive Preschool featured image (29)
The rebrand marks a significant evolution in the company's mission to support and elevate SME challenger brands....
Copy of Progressive Preschool featured image (2)
The New Business Pavilion will brim with the next generation of creators ,offering them the chance to be retail’s next bestsellers. ...
Copy of Progressive Preschool featured image (28)
Steelite, a Horeca supplier of tabletop, buffet and lighting, has acquired Utopia Tableware. ...
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.