Wilko rescue deal from Putman ‘in limbo’ over supplier issues

According to The Sun, weekend negotiations relating to Doug Putman had “run into problems” after suppliers including Unilever and Procter & Gamble “demanded their debts are repaid and paid upfront” in order to guarantee supply to its stores moving forward.

Concerns were also raised as some suppliers, which had cancelled shipments to Wilko’s stores due to fears about the future, would be unable to ship products for an additional six weeks, according to the newspaper’s sources.

The situation is understood to be “fluid” and a deal “may still be struck” despite there having been no official announcement yet.

Unilever and Procter & Gamble did not provide a comment.

PwC is also still said to be “engaged in talks with rival retailers” including B&M, Poundland, Home Bargains and The Range.

This comes as HMV owner Putman was said to be edging closer to a deal last week, which would see him acquire the majority of Wilko’s operations and keep around 300 stores, saving more than 8,000 jobs.

Online marketplace OnBuy also revealed it was exploring a “possible synergy” with Putman in a deal that would look for OnBuy to save Wilko.com, while Putman eyes the Wilko stores.

Staff redundancies at Wilko are understood to have started taking place this week despite the ongoing discussions.