Wilko in talks for £30m lifeline

Wilko is in talks to secure a £30m cash injection as cost pressures intensify in the run-up to Christmas, according to the Sunday Times.

The news comes as the chain retailer was unable to agree to an extension of its revolving credit facility due to interest rate hikes. It employs around 16,000 people and has over 402 shops across the UK.

Wilko recently signed a 15-year agreement and leaseback deal on its Nottinghamshire-based distribution site with DHL, with the £48m deal helping the company pay off its revolving credit facility.

Wilko CEO Jerome Saint-Marc said: “We’re taking this opportunity to review how we manage our ongoing financing to best trade through the current retail environment while continuing to invest in our future.”