Gordon Brothers weighs rescue bid for Wilko
Discount retailer Wilko is in talks with the firm behind Laura Ashley to rescue the brand as it teeters on the brink of collapse.
Gordon Brothers, which specialises in restructuring retail businesses, is in talks to rescue the ailing high street brand, according to Sky News
Sources told Sky that Gordon Brothers could offer to fund a major restructuring plan to help save Wilko.
The brand is also in talks with several other buyers but there’s no indication as to whether any formal offer could be on the table.
Wilko filed for a notice of intent to appoint administrators last week on August 3.
A notice of intention essentially means Wilko has a 10-day window to secure a deal while it’s still protected from action by other creditors.
Wilko has 400 shops across the whole of the UK and employs around 12,000 people in total.