Canadian businessman who bought HMV launching last-minute bid to save Wilko, according to reports

A Canadian businessman is launching a last-minute bid to save stricken retailer Wilko, it has been reported.
By Greg Wright
Published 25th Aug 2023, 08:52 BST

Wilko tumbled into administration two weeks ago, putting the future of its 400 shops in doubt.

Administrators from PricewaterhouseCoopers (PwC) have sought offers from interested firms in an effort to save jobs and stores.

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Doug Putman, who bought music retailer HMV in 2019, is set to make an offer which the BBC reported is unlikely to meet legal requirements.

A Canadian businessman is launching a last-minute bid to save stricken retailer Wilko, it is understood. (Photo James Manning/PA Wire)A Canadian businessman is launching a last-minute bid to save stricken retailer Wilko, it is understood. (Photo James Manning/PA Wire)
A Canadian businessman is launching a last-minute bid to save stricken retailer Wilko, it is understood. (Photo James Manning/PA Wire)

A PWC spokesperson said: “Since our appointment as administrators of Wilko we have worked relentlessly to secure a sale of the business, and talks are continuing with a number of parties.

“As administrators we’re intent on achieving the best outcome for everyone involved while preserving as many jobs as possible and adhering to our statutory duty to act in the best interests of the creditors as a whole.

“It would be inappropriate to comment on individual bidders or interested parties at this stage in the process.”

Related topics:WilkoPricewaterhouseCoopersBBC