Tuesday, December 24, 2024

Retail investor injects more funding into Wilko

Retail investor Hilco has injected millions of pounds of funding into Wilko to help secure its future.

Hilco has agreed to lend around £5m to the Nottinghamshire retailer, according to reports from Sky News.

The new loan follows the £40m two-year revolving credit facility Wilko secured from Hilco at the beginning of 2023.

The news comes after reports last week that a change in ownership could be on the horizon for Wilko and follows discussions with financial investors regarding raising new equity to finance the firm through a restructuring process.

Wilko had also recently been looking to finalise a company voluntary arrangement to facilitate rent cuts at hundreds of shops.

Wilko is the UK’s 23rd biggest retailer, employing 16,000 team members. It operates 400 stores across the UK.

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