There are fears a high street business could close stores after it was reported the company is considering a form of insolvency.
Wilko, which operates a store in St Albans, is reportedly considering a company voluntary arrangement (CVA) which would allow the business to renegotiate rents and possibly close stores.
The St Albans branch survived a cull of 15 stores in January but, with the Bloomberg report on a potential CVA, the location could be under threat.
READ MORE: St Albans hospital legal deadline for building work extended
Wilko chief executive Mark Jackson told the Bloomberg: “We’re in the early stages of the turnaround and, as is usual, the directors continue to explore all options for Wilko’s long-term future.”
The business news outlet reported that it is understood Wilko approached financial advisors PricewaterhouseCoopers as it looks at restructuring options.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here