Wilko’s former owners say they have no legal obligation to help plug £70m pension black hole

Wilko’s former owners have no intention of helping plug the £70m hole in the bankrupt retailer’s pensions, dealing a further blow to thousands of former workers.

The discount chain went bankrupt a year ago, causing the loss of 12,500 jobs and the closure of 398 stores.

Amalgamated Holdings Wilkinson Limited (AHWL), the holding company owned by the Wilkinson family, founders of Wilko, says its lawyers believe it has no obligation to help finance the hole.

Directors “do not believe there is any liability for any shortfall,” according to documents filed by AHWL.

The shortfall comes after £77m was paid out to landlords in the decade before the collapse.

Last year, unions and MPs called for owners to be held accountable.

Explaining why it did not believe it should be held liable, AHWL said it had “never been the sponsoring employer” of Wilko’s pensions.

Former Wilko employees are hoping that the Pensions Regulator will take action against Wilko and use its powers to pursue the company’s owners and demand relief.

Atul Shah, a professor of accountancy at City, University of London, who gave evidence to MPs about Wilko’s death last year, said: “Everyone else was minding their own business.

But it is the workers who are left behind.