The future of a Lichfield shop could be in doubt after a national chain filed a notice of intent to appoint an administrator.
Wilko said the move was as a result of “mounting cash pressures”.
The Bore Street site is one of 400 operated by the chain across the country.
The notice means the company now has a window to secure a deal in a bid to stave off a collapse which could put thousands of jobs at risk.
Wilko chief executive Mark Jackson said:
“While we can confirm we’ve had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present, we don’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.
“Unfortunately, with this in mind, today we’re having to take the difficult decision to file an notice of intention.”
Mark Jackson
