Tag: energy bills

Wilkos Announces They’re In Administration Putting 12,000 Jobs At Risk

Wilko has today announced that they have entered into administration which has put 12,000 jobs at risk.

Sadly Wilko’s have found themselves unable to find emergency investment which could have saved 400 shops across the UK.

Sadly it’s likely to be the end for the business which has been trading since 1930.

In an interview conducted by BBC News the firm’s boss, Mark Jackson, has been quoted as saying ‘management had “left no stone unturned” in its attempts to save the company.

“But we must concede that with regret, we’ve no choice but to take the difficult decision to enter into administration,” he said.

What happens next?

If Wilkos fails to find another business to buy any of the shops or parts of the business out of administration they will become the biggest High Street casualty this year.

It’s expected that Administrators are to be appointed later on Thursday (today), however it will continue to trade as normal for now.

GMB union told BBC News that the collapse was “entirely avoidable”.

National officer Nadine Houghton said: “GMB has been told time and time again how warnings were made that Wilko was in a prime position to capitalise on the growing bargain retailer market, but simply failed to grasp this opportunity.”

Although the business has been struggling for some time, the depths of its problems emerged last week when it announced its intention to appoint administrators.

This gave Wilko 10 days to secure a rescue. However, it was unable to strike a deal within that timeframe.

Wilkos have had a significant level of interest which had included indicative offers that would have met all their financial criteria to recapitalise the business

But without the surety of being able to complete the deal within the necessary time frame and given the cash position, they’ve been left with no choice but to take this upsetting action.

Why is this happening?

Wilko has been struggling with sharp losses and a cash shortage for a long time now.

They had already borrowed £40m from Hilco which is a business restructuring specialist. The company had previously cut the amount of employees, had overhauled it’s leadership team and sold off a distribution centre which was vital to the running of the business.

Whilst most Wilko’s stores are in High Street locations this has proven to be very costly for them as many, not all customers have moved to shop at bigger retail parks and out-of-town locations.

The pandemic also changed the shopping habits of many combined with the cost of living crisis which is having a massive impact on high street shopping.

Sadly Wilko’s has also faced strong competition from rivals such as B&M and Home Bargains as shoppers are now seeking out bargains.

Sadly Wilko’s failed to adapt their business to the changing shopping habits of their customers which is one of the reasons why the business has entered into administration.

Richard Lim, chief executive at Retail Economics a retail consultancy commented saying that a combination of rising costs, lower customer demand and fierce competition is what ultimately pushed Wilko to “breaking point”.

“Against the backdrop of seismic shifts in consumer behaviour and the intense pressure on margins, the business was too slow to react to these mounting challenges and paid the ultimate price,” he said.

The company, founded in Leicester, is still owned by the same Wilkinson family..

When Woolworths ceased trading in 2008 they were quick to fill the gaps in the high street that were left.

Why am I writing about this in my blog?

Wilko’s has long been a staple of the high street, and is still used by many to buy essential household products. It’s accessible for those without cars and are usually easily accessed by public transport.

Retail parks are catered towards car drivers and aren’t easy for non car drivers to access.

Many of the 12,000 employees have worked there for many years and hold their work colleagues in great regard. It’s going to be an awful shock for them when they enter the world of unemployment and the cruel DWP system.

The DWP won’t have any sympathy for them and the stress that they put upon claimants is unbelievably cruel, forcing many to rely upon food banks to survive.

My thoughts and sympathies are with all Wilkos employees and their families, including their customers that relied upon the company for their shopping requirements.

It’s indeed a sad day for the high street, one that won’t be forgotten by many.

My photo

Wilkos Announces In Administration Putting 12,000 Jobs At Risk

Wilko has today announced that they have entered into administration putting 12,000 jobs at risk.

Sadly Wilko’s have found themselves unable to find emergency investment which could have saved 400 shops across the UK.

It’s likely to be the end for the business which has been trading since 1930.

In an interview conducted by BBC News the firm’s boss, Mark Jackson, has been quoted as saying ‘management had “left no stone unturned” in its attempts to save the company.

“But we must concede that with regret, we’ve no choice but to take the difficult decision to enter into administration,” he said.

What happens next?

If Wilkos fails to find another business to buy any of the shops or parts of the business out of administration they will become the biggest High Street casualty this year.

It’s expected that Administrators are to be appointed later on Thursday (today), however it will continue to trade as normal for now.

GMB union told BBC News that the collapse was “entirely avoidable”.

National officer Nadine Houghton said: “GMB has been told time and time again how warnings were made that Wilko was in a prime position to capitalise on the growing bargain retailer market, but simply failed to grasp this opportunity.”

Although the business has been struggling for some time, the depths of its problems emerged last week when it announced its intention to appoint administrators.

This gave Wilko 10 days to secure a rescue. However, it was unable to strike a deal within that timeframe.

Wilkos have had a significant level of interest which had included indicative offers that would have met all their financial criteria to recapitalise the business

But without the surety of being able to complete the deal within the necessary time frame and given the cash position, they’ve been left with no choice but to take this upsetting action.

Why is this happening?

Wilko has been struggling with sharp losses and a cash shortage for a long time now.

They had already borrowed £40m from Hilco which is a business restructuring specialist. The company had previously cut the amount of employees, had overhauled it’s leadership team and sold off a distribution centre which was vital to the running of the business.

Whilst most Wilko’s stores are in High Street locations this has proven to be very costly for them as many, not all customers have moved to shop at bigger retail parks and out-of-town locations.

The pandemic also changed the shopping habits of many combined with the cost of living crisis which is having a massive impact on high street shopping.

Wilko’s has also faced strong competition from rivals such as B&M and Home Bargains as shoppers are now seeking out bargains.

Regrettably Wilko’s failed to adapt their business to the changing shopping habits of their customers which is one of the reasons why the business has entered into administration.

Richard Lim, chief executive at Retail Economics a retail consultancy commented saying that a combination of rising costs, lower customer demand and fierce competition is what ultimately pushed Wilko to “breaking point”.

“Against the backdrop of seismic shifts in consumer behaviour and the intense pressure on margins, the business was too slow to react to these mounting challenges and paid the ultimate price,” he said.

The company, founded in Leicester, is still owned by the same Wilkinson family..

When Woolworths ceased trading in 2008 they were quick to fill the gaps in the high street that were left.

Why am I writing about this in my blog?

Wilko’s has long been a staple of the high street, and is still used by many to buy essential household products. It’s accessible for those without cars and are usually easily accessed by public transport.

Retail parks are catered towards car drivers and aren’t easy for non car drivers to access.

Many of the 12,000 employees have worked there for many years and hold their work colleagues in great regard. It’s going to be an awful shock for them when they enter the world of unemployment and the cruel DWP system.

The DWP won’t have any sympathy for them and the stress that they put upon claimants is unbelievably cruel, forcing many to rely upon food banks to survive.

My thoughts and sympathies are with all Wilkos employees and their families, including their customers that relied upon the company for their shopping requirements.

It’s indeed a sad day for the high street, one that won’t be forgotten by many.

My photo

Almost Half Million PIP Helpline Calls Deliberately Disconnected In April

Almost half a million PIP ( Personal Independence Payments) deliberately disconnected by the DWP (Department of Work and Pensions) in April revealed in freedom of information request by Benefits And Work

Most of these callers were disconnected before they were able to wait in a call queue.

Benefits and Work submitted a freedom of information request asking the DWP to reveal the amount of calls made to the PIP Enquiry Line that were cut-off before being placed in the queue and those that were in the queue but didn’t manage to connect with an operative.

The DWP then answered providing the following statistics:

February

Calls put in queue 415,552

Calls blocked 34,860

March

Calls put in queue 488,965

Calls blocked 306,865

April

Calls put in queue 388,265

Calls blocked 494,044

It’s worth remembering that even though they might have managed to get a spot in the queue this doesn’t guarantee that their calls will be connected to an operative.

Thousands of calls also get disconnected when placed into the queue. that just because you get into the queue.

Of course the DWP aren’t addressing these problems, I personally think that the could be deliberate because many callers will give up and try to manage without their PIP payments.

I cannot stress enough how dangerous this is for already vulnerable people claiming PIP, they need their payments so they can manage from day to day.

How will they manage without their payments or without the answers they required upon phoning the hotline?

I strongly suspect that thousands will go without essential meals, will be unable to get out to do everyday tasks and to attend appointments etc.

These payments are essential to their well-being and treating their calls like this will also cause thousands to become distressed or worse.

The government needs to stop treating disabled people as some sort of subhuman community and not worthy of any help or assistance.

We need to fight back and challenge this blatant discrimination. Everyone is entitled to a good quality of life and this needs to stop.

Please read, share and tweet my blog this is essential to raise awareness of these very important issues that are often hidden in plain sight.

I don’t receive any payment for my work and to keep my blog going and it’s a massive struggle to keep it going.

If you can afford to and would like to donate to help me there’s a donate button at the top and side of this blog post.

Thank you x

Good Law Project To Sue Ofgem

I’m a bit late publishing this my apologies.

I wish the Good Law Project every success. Ofgem have acted terribly and have failed in their duty to protect the consumer and to file important reports that should have been submitted before their announcement last week.

Good Law Project To Sue Ofgem

I’m a bit late publishing this my apologies.

I wish the Good Law Project every success. Ofgem have acted terribly and have failed in their duty to protect the consumer and to file important reports that should have been submitted before their announcement last week.

Good Law Project To Sue Ofgem

I’m a bit late publishing this my apologies.

I wish the Good Law Project every success. Ofgem have acted terribly and have failed in their duty to protect the consumer and to file important reports that should have been submitted before their announcement last week.

Good Law Project To Sue Ofgem

I’m a bit late publishing this my apologies.

I wish the Good Law Project every success. Ofgem have acted terribly and have failed in their duty to protect the consumer and to file important reports that should have been submitted before their announcement last week.

Good Law Project To Sue Ofgem

I’m a bit late publishing this my apologies.

I wish the Good Law Project every success. Ofgem have acted terribly and have failed in their duty to protect the consumer and to file important reports that should have been submitted before their announcement last week.

Good Law Project To Sue Ofgem

I’m a bit late publishing this my apologies.

I wish the Good Law Project every success. Ofgem have acted terribly and have failed in their duty to protect the consumer and to file important reports that should have been submitted before their announcement last week.

Good Law Project To Sue Ofgem

I’m a bit late publishing this my apologies.

I wish the Good Law Project every success. Ofgem have acted terribly and have failed in their duty to protect the consumer and to file important reports that should have been submitted before their announcement last week.