Fears grow as jobs threat looms at Hitchin Wilko as struggling homeware retail chain ponders insolvency
By Layth Yousif 30th May 2023
Could jobs be lost at Hitchin Wilko as homeware retail chain ponders insolvency
There are fears High Street homeware business Wilko could shut stores - including its site on Bancroft in Hitchin town centre - after the company ponders insolvency.
Wilko, which also has stores in Letchworth and Stevenage is weighing up entering into a company voluntary arrangement (CVA) which would allow the company to renegotiate rents in a bid to cut costs, while also closing stores.
The British High-Street retail chain which sells homewares and household goods has struggled since lockdown and the change in shopping habits which has seen more and more people buy items online.
The branches in Stevenage and North Hertfordshire survived a cull of 15 stores earlier this year but, with respected industry source Bloomberg reporting on a potential CVA, Wilko stores in and around North Herts are under threat.
The retail giant employs around 16,000 people across the country including at the three sites in North Herts.
Wilko chief executive Mark Jackson explained to Bloomberg: "We're in the early stages of the turnaround and, as is usual, the directors continue to explore all options for Wilko's long-term future."
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