Wilkos Homeware also known as Wilkinson’s has announced that they’re expected to enter insolvency because of mounting cost pressures.
The company has officially filed a “notice of intention” to appoint administrators after failing to find enough investment.
Wilkos currently employ approximately 12,000 people within their current 400 UK stores.
Sadly a victim of the cost of living crisis leaving customers, possibly the effects of the pandemic have caused a downturn in profits confirming that stores are unable to pay expensive store leases.
Wilkos announced in January that they had to make the hard decision to close some existing stores with some closing in February.
Wilkos have officially announced that they’re expected to enter insolvency after failing to secure a takeover which would have helped the business to cope with ‘mounting cash pressures.
My thoughts are with all Wilko’s employees that at the time of writing are facing unemployment many of which have worked for the company for years.
My Photo Ashton Under Lyne Store.My photo Ashton Under Lyne Store.
Martin Lewis recently announced that energy costs are predicted to reach an all time high both in October and January. This will leave thousands of people that are struggling to pay their energy costs unable to do so.
This raises the questions:
How will disabled people live?
How will low income families live?
How will the elderly live?
How will children live?
How will single people live?
How are we all supposed to survive this?
One thing I do know is that the government aren’t in any rush to help the public, they’d rather be scrapping amongst themselves to be the next Conservative Party leader than to help the public with an ousted Prime Minister at the helm.
As soon as the predicted energy price rises were announced both Martin Lewis and campaigners such as myself have requested that the government provides more help to everyone that is eligible after October and in January.
The response was silently deafening….Radio silence, not a word and absolutely no reasoning as to why they’re allowing energy prices to rise to an unbelievable high. It doesn’t matter how much people are told to budget it’s impossible to budget with zero money to budget with.
Winter in the UK can be pretty brutal, cold and unforgiving. I predict households will be forced into desperation to heat their homes. Some might see no option other than opening up disused fireplaces, forced to do so because of the rising cost of energy bills leaving them no longer able to use their central heating.
Desperate times result in desperate measures.
Meanwhile whilst vulnerable people are already struggling theres news from the US bank Citi and Centrica the British Gas owner.
According to Centrica, the British Gas owner will be announcing a return to giving dividends. They are also planning to return £0.5-£1bn to shareholders either through shares or repayment of debt.
These plans will go ahead at the same time as energy bills are predicted to hit £3,300 in January compared to £1,971 at present. This is due largely to soaring gas prices. Citi bank also sees scope for profit from both the company’s nuclear, energy markets and trading divisions. This will be reflected in the production volumes and volatile commodity markets.
This could result in a half-year dividend of 1.1p which is expected by the bank with a 3.8p payment for the full year.
Whilst the public are struggling to pay their energy bills and keep up with the increasing cost of living crisis, Centrica have decided to give each other a pat on the back for a job well done. It’s Machiavellian and cruel beyond belief.
You couldn’t make this shit up.
This winter will truly be a winter of discontent for millions of vulnerable people. We need a general election and a Labour Party government and it can’t happen soon enough.
The poor side of life 