We've been out speaking to shoppers to get their thoughts
Alarmed shoppers have said Nottinghamshire could suffer a potential 'blow' after hearing of Wilko's financial struggles. The discount retail brand announced earlier today that it had borrowed £40million from restructuring specialist Hilco.
Wilko, the fourth-largest firm in Nottinghamshire, recorded a £36.8m loss before tax over the year leading to January 2022. During lockdowns of 2020, it recorded £4.4m in profit as many households turned to DIY and it was one of the first stores allowed to open in the early months of the pandemic as it was deemed essential.
"I go in there for things around the house, things I need for my garden. This is a good-sized shop as well - it would be difficult if anything was to happen to it. "It's got to be one of our biggest stores. It's not nice to hear about - lots of businesses have obviously struggled recently, like everyone is.Total sales for Wilko dropped by £43.2m to £1.32billion, according to accounts filed at Companies House. In a statement, Wilko admitted it 'had not been performing to its full potential' and needed to make 'strategic changes'.
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