GMB seeks ‘urgent meeting’ with business secretary regarding Wilko administrators

The Guardian reported that GMB national secretary Andy Prendergast wrote a letter to Badenoch following suggestions that potential rescuers of the business have had “difficulties” engaging with the administrator. 

The news comes after a fresh bid for Wilko emerged on Friday from private equity firm M2 Capital, which confirmed it had made a £90m bid for the retailer and said it would secure all employees’ jobs for two years.

HMV owner Doug Putman also made a late offer to save the retailer and was understood to be holding “advanced talks” with Wilko’s management team and administrators last Thursday, according to reports.

The newspaper also reported that “at least one other potential bidder from the UK” was considering making an offer, but no formal bid had been confirmed.

PwC confirmed last week that jobs are likely to be lost and stores will probably close as it had not yet found a buyer for the whole group, with a decision thought to be “imminent”.

In the letter sent to Badenoch seen by The Guardian, Prendergast said: “We are concerned that prior to our involvement, several of these bidders have reported difficulties engaging the appointed administrators. 

“Several bidders appear to have the necessary funding and the willingness to invest and safeguard our members’ jobs.”

A spokesperson for PwC told the newspaper: “Since our appointment as administrators of Wilko, we have worked relentlessly to secure a sale of the business, and talks are continuing with a number of parties.

“As administrators, we’re intent on achieving the best outcome for everyone involved while preserving as many jobs as possible and adhering to our statutory duty to act in the best interests of the creditors as a whole.

“It would be inappropriate to comment on individual bidders or interested parties at this stage in the process.”

GMB is also said to have “raised concerns over the role of Hilco Capital” after the private equity firm lent Wilko £40m earlier this year.

The union said it was “concerned about the influence of Hilco” and added that the company’s interests “did not necessarily align with retaining workers’ jobs”.

Hilco and the Department for Business and Trade did not provide a comment.