Table of Contents
Wilko is to open another new store since it was acquired and rebranded following its dramatic collapse last year.
The retailer, which was bought by low-cost rival The Range last year, has announced plans to open a new store in Uxbridge, west London, this autumn.
This is the brand’s seventh store opening since it was acquired, following previous openings in Exeter, Plymouth, Luton, Rotherham, St Albans and Poole, and the first in the capital since its relaunch.
Return: Wilko was a familiar name on the high street and will return to London later this year.
Before its collapse, the budget homewares chain had 400 stores across the UK, but it filed for bankruptcy last August, resulting in the loss of nearly 12,500 jobs.
Mark Jackson, former Wilko boss, wrote an open letter last year, saying: “We have spared no effort to preserve this incredible business, but we must regretfully admit that we have no choice but to take the difficult decision to enter administration.”
Signs of Wilko’s troubles emerged six years before its collapse, when the company launched a redundancy consultation affecting 4,000 jobs.
Wilko posted a £65m loss that year and has continued to disappoint ever since.
The brand also had to fight off increasing competition from rivals B&M and Poundland, which captured a larger share of the market at lower cost.
A key part of B&M’s success lies in the retailer’s ability to source its huge range of merchandise directly from its own Asia-based buying operation, giving it an advantage in design and value.
B&M and the owner of Poundland agreed to acquire several Wilko stores, before CDS Superstores, which trades under the brand name The Range, stepped in to secure a £5m deal for its remaining stores and intellectual property.
The Range was founded by Chris Dawson, a tycoon nicknamed the “Del Boy billionaire”, in 1989 and has 213 stores across the UK.
Alex Simpkin, managing director of CDS Superstores, said today: ‘Our expansion is all about putting Wilko back at the heart of communities, delivering quality and value to every corner of the UK.
‘We have had an excellent reception from customers across our six locations to date, and from wilko.com shoppers, and we are delighted to announce our reopening in Uxbridge, which also marks our return to Greater London.’
SAVE MONEY, EARN MONEY
Boosting investment
Boosting investment
5.09% cash for Isa investors
Cash Isa at 4.92%
Cash Isa at 4.92%
Includes 0.88% bonus for one year
Free stock offer
Free stock offer
No account fees and free stock trading
4.84% cash Isa
4.84% cash Isa
Flexible ISA now accepting transfers
Transaction fee refund
Transaction fee refund
Get £200 back in trading commissions
Affiliate links: If you purchase a product This is Money may earn a commission. These offers are chosen by our editorial team as we believe they are worth highlighting. This does not affect our editorial independence.