Wilko Is Gone

Recently at the end of August, the retail giant Wilko announced they had stopped making profit and needed to go into administration to save the company from collapse. Unfortunately the administration process failed to get the company a rescue deal from other retailers; I learned that they had debt from their suppliers so it put them off. Wilko was forced to close down all their stores during September. 

As an ordinary consumer, I understand what went wrong. It was all down to costs and competition. When we had high inflation, people were buying only a few things that they need; people prefer retail parks to the high street and malls when they only want a few things. Wilko has a lot of stores on high streets, I went to some of those stores and noticed there was more staff than customers, it was obvious those stores weren't making profit. If my toaster stopped working I would prefer to go to B& M because they have a budget food section by the entrance so I know I can get a 5 pack of instant noodles, my time wouldn't be wasted if they didn't have the toaster I wanted. It was more convenient to shop elsewhere. A lot of the things they sold in Wilko were available elsewhere, I could get tools from budget supermarkets, curtains from Dunelm and places like that. 

This reminds me of when Thomas Cook closed down not too long ago. Very sad.