Wilko administrators to review £77m dividend payouts
This news comes as the family is facing pressure to address a £56m hole in the pension fund of company employees
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Wilko administrators PwC are reportedly set to question majority shareholder Lisa Wilkinson over payouts of £77m in dividends to investors during the last decade.
According to the Times, PwC will review payouts to the Wilkinson family and other investors in the years leading up to the retailer’s demise.
It has been reported that the auditors have already begun gathering information about the company’s directors including Wilkinson.
PwC plans to conduct interviews and scrutinise bank statements to investigate the factors which led to the collapse of Wilko and decipher whether any legal action should be pursued.
Wilko paid out a £3m dividend last year despite the company posting losses of £39m.
The company also paid out a £3.2m dividend back in 2018 on the back of a £65m loss.
Wilkinson is the granddaughter of founder James Kempsey Wilkinson and took over as boss in 2014 after buying a majority stake from her cousin Karin Swann.
This news comes as the family is facing pressure to address a £56m hole in the pension fund of company employees.
