Wilko to close 15 stores

Cut-price retail chain Wilko is to close up to 15 stores in the coming year. The company, which currently operates 414 outlets across the UK, employing 16,000 people, said it was reviewing leases that were coming to an end and would exit stores where favourable terms could not be agreed. Stores affected include Bournemouth, Grantham, Rotherham, Llanelli, Sutton Coldfield and Cleethorpes. Chief executive Jerome Saint-Marc said: “There is no denying the way people shop with us and where they want to shop with us is changing. As a business, we are evolving, and this includes working with landlords for more favourable terms, as well as looking at locations and store formats.” The GMB Union said it was “yet another nail in the high street’s coffin” and called on landlords to review commercial leases and offer lower rents. Sales at Wilco sank by 10.5% in the year to January 2021 to £1.28bn, while pretax profit fell by almost 13% to £5.5m. The Guardian