Privately owned Wilko has hired CBRE, the property agent, to assist its negotiations with landlords as it braces for crunch talks on rent cuts across its stores, Sky News understands.
The discount retailer Wilko has drafted in property advisers ahead of crunch talks with landlords about slashing rents across its store estate.
Sources said on Friday that Wilko was unlikely to permanently close a substantial number of its roughly-400 stores as part of a company voluntary arrangement which is in the process of being finalised. Mark Jackson, Wilko's chief executive, said:"We announced the start of our turnaround programme to drive Wilko forward in January, complete with a new streamlined senior team and a strategic plan to first stabilise the business and then implement a growth strategy.
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