GMB union, which represents around 3,000 Wilko staff members, has said that redundancies could begin today if a bidder for the entire firm does not provide the necessary paperwork. M2 Capital has been said to have made a £90 million bid for the firm. Business Reporter Michael Crossland Reports.
Category
🗞
NewsTranscript
00:00 Hello I'm Michael Crosland, Business Reporter with the Yorkshire Post and we just have a
00:03 brief update today from High Street Retailer Wilco which phoned to administration earlier
00:09 this month. So GMB Union which is the union which represents around 3,000 Wilco staff
00:16 has said that job cuts could begin today at the firm if a bid is not finalised. The union
00:22 told its members that a bidder for the entire business had been given a deadline of 5pm
00:27 today to provide the paperwork needed for its offer to be considered and that if this
00:33 does not happen redundancies may begin. The union said there are no other bids which would
00:38 save Wilco's warehouses and support centres but added that the bid has yet to pass basic
00:44 checks. It's been reported that private equity firm M2 Capital made a bid of £90m at the
00:51 weekend to buy the firm and also pledged to retain all jobs for two years but as things
00:58 stand the 12,500 jobs at Wilco as well as its 400 stores are still at risk. GMB said
01:06 that it would meet with administrators PwC again today. That's all we have on Wilco
01:11 at the minute, I'm Michael Crosland reporting for the Yorkshire Post.
01:15 [BLANK_AUDIO]