Our High Streets - Dying or Evolving?
A rescue deal for the chain has fallen through. So, what does this tell us about the current state of our high streets? Are they struggling or just adapting?
Wilko has styled itself as a budget UK homeware chain for more than 90 years. With 400 stores across the UK, the chain is well-known for its affordable everyday items. But in August 2023, the High Street stalwart collapsed into administration and put 12,500 jobs at risk.
Discount chain B&M said in September that it would take on up to 51 of Wilko's 400 stores in a deal worth 拢13m.
There was hope a further 300 stores could be rescued by the billionaire owner of HMV, Doug Putman. But the failure of his bid means the Wilko name will disappear from the High Street.
Wilko's collapse begs the questions: what is the current state of our high streets? Are they sinking, or simply changing? For 5 Minutes On, 麻豆社 Business Reporter, Lora Jones, takes a look.
Image Credit: EPA
