Wilko leaders to be questioned on firm’s collapse
Former Wilko leaders and the firm’s auditors will answer questions from MPs on the cross-party Business and Trade Committee on how and why the firm collapsed.
Wilko had a high street presence since 1930 but folded in August, with the loss of more than 400 stores and 12,000 jobs.
Lisa Wilkinson, former Chair of Wilko, and Mark Jackson, the company’s CEO at the time of its collapse, are expected to be asked about:
- the Wilkinson family’s justification for taking millions of pounds in dividends out of the firm, even when it was heavily indebted;
- what attempts were made to save the business and whether crucial advice was ignored; and
- the £50 million shortfall in the company’s pension fund.
During the session, the Committee will also hear from union representatives and industry experts who’ll be asked for their appraisal of the retail environment and options that faced Wilko.
Finally, Business Minister Kevin Hollinrake will be questioned on measures to support the retail sector and the role of the Insolvency Service.