Budget retailer Wilko, which has stores across Oxfordshire, has filed a notice of intent to appoint administrators, putting around 12,000 jobs at risk.

The stores in the county which could be at risk are in Oxford, Didcot, Bicester and Banbury.

The retailer has around 400 stores across the UK, and the company’s chief executive confirmed the move to administration on Thursday (August 3).

READ MORE: Oxford Conservatives call out council's 'affordable' housing

Wilko chief executive officer Mark Jackson said: “While we can confirm we’ve had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present, we don’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.

“Unfortunately, with this in mind, today we’re having to take the difficult decision to file a notice of intention.

“We’ll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business and will encourage those interested parties we’re in discussions with to move as fast as possible.

“We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.”

Wilko was founded in Leicester by James Kemsey Wilkinson in 1930, and remains in the ownership of the founding family.

 

Read more from this author

This story was written by Matthew Norman, he joined the team in 2022 as a Facebook community reporter.

Matthew covers Bicester and focuses on finding stories from diverse communities.

Get in touch with him by emailing: Matthew.norman@newsquest.co.uk

Follow him on Twitter: @OxMailMattN1