Wilko shareholders handed more than £10m before collapse risking 12,000 jobs

12 August 2023 , 17:55

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Wilko's parent companies dished out millions in ­dividends in the last decade (Image: Amer Ghazzal/REX/Shutterstock)

Wilko shareholders were handed more than £10million before the retailer’s collapse.

The family-owned discount chain plunged into administration on Thursday after nearly 90 years. Now we can reveal its parent companies dished out millions in ­dividends in the last decade.

Our analysis of Companies House filings from the year ending February 2013 to January last year show more than £10.9million was paid out. Nadine Houghton, national officer at GMB – which represents thousands of its staff – said: “These payouts are staggering. It’s disgraceful that so much money has left the business when 12,000 working people are facing potential redundancy.”

In January, Lisa Wilkinson, granddaughter of the founder, stepped down as chair but stayed on the board as a family director. The company, established in 1930, secured a £40million loan following a warning in November it could run out of cash.

Ms Wilkinson co-owns a Cambridgeshire home bought for £2.3million in 2014. Administrator PwC said Wilko would “continue to trade all stores without any immediate redundancies as discussions with interested parties continue”.

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It added: “If buyers for some or all of the group are not found, it is likely that store closures and redundancies will follow.” PwC’s Zelf Hussain said: “Wilko has been impacted by inflationary pressure and rising interest rates.”

Simon Murphy