Popular high street brand Wilko has today fallen into administration, putting more than 400 stores across the UK at risk of closure including six in North Wales.

Wilko Chief Executive Officer (CEO) Mark Jackson last week revealed the company expected to enter insolvency after failing to secure a takeover to help the business with “mounting cash pressures”. 

The retailer filed a notice of intention to appoint administrators at the High Court last Thursday (August 3) and today announced it had fallen into administration after failing to secure a rescue deal. 

There are six Wilko stores across North Wales at risk of closing following today's announcement including in Wrexham, Rhyl and Llandudno.

Rhyl Journal: There are six Wilko stores in North Wales that could be at risk of closing.There are six Wilko stores in North Wales that could be at risk of closing. (Image: PA)

Wilko stores in North Wales at risk of closing

Wilko currently has 408 stores across the UK and this morning's news the company has entered administration puts around 12,000 jobs at risk.

There are six Wilko stores located across North Wales:

  • Holyhead (1 store)
  • Llandudno (1)
  • Porthmadog (1)
  • Pwllheli (1)
  • Rhyl (1)
  • Wrexham (1)

CEO speaks out as Wilko enters administration

Mr Jackson, Wilko CEO, said the firm had “a significant level of interest” but was “left with no choice but to take this unfortunate action” after being unable to close a deal in time.

In a letter, Mr Jackson said: “Over the past six months Wilko has been very open that we’ve been considering options to accelerate a turnaround plan given that we needed to make significant changes to the way we operate to restore confidence and stabilise our business.

“We left no stone unturned when it came to preserving this incredible business but must concede that with regret, we’ve no choice but to take the difficult decision to enter into administration.

“We’ve all fought hard to keep this incredible business intact but must concede that time has run out and now we must do what’s best to preserve as many jobs as possible, for as long as is possible, by working with our appointed administrators.”