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Selling pick 'n' mix, stationery and even garden tools: Wilko has styled itself as a budget UK homeware chain for more than 90 years.

With 400 stores across the UK, the chain is well-known for its affordable everyday items.

But in early August, the High Street stalwart collapsed into administration and put 12,500 jobs at risk.

Discount chain B&M said in September that it would take on up to 51 of Wilko's 400 stores in a deal worth £13m. And the owner of Poundland has agreed to take on the leases of 71 Wilko shops.

There had been hope that a further 300 stores could be rescued by the billionaire owner of HMV, Doug Putman. But the failure of his bid means the Wilko name will disappear from the High Street in the next few weeks.

The business was founded in 1930 when JK Wilkinson opened his first store in Leicester. It expanded across the Midlands initially and by the 1990s became one of Britain's fastest-growing retailers.

In 2012, Wilkinson began rebranding its stores as Wilko, and by 2014, most stores had emblazoned the new name on storefronts.

When we first heard the chain was struggling, we spoke to Wilko customers in stores and on social media.

James, a construction professional, remembered the first Wilko store in Leeds: "My dad loved it - a brilliant location at the Arndale Centre in Headingley. It sold such a wide range of things."

But Stephen from North Tyneside said it didn't have everything he wanted.

"We only go in for specific items. It's good for washing up powder. It's not what it was, I don't think," he said.

Woolworths gap

Wilko stepped into the High Street gap left by the collapse of Woolworths in late 2008, but has struggled over the past decade partly due to growing competition from the likes of Poundland and B&M.

Wilko's sales were larger than B&M's a decade ago, but recently its sales had also fallen below Poundland, Home Bargains and The Range.

Some analysts have pointed out that rivals seem to offer similar goods at lower prices - which made Wilko's business less appealing for potential suitors.

Shoppers had also noticed gaps on shelves after Wilko struggled to pay suppliers and at least one credit insurer withdrew trade cover, prompting some companies to pause deliveries.

Richard Lim, boss of the Retail Economics consultancy, said the level of investment needed to get the retailer back on its feet and regain the trust of their suppliers was "a significant stumbling point".

"While some of the stores have been acquired, the core business needs emergency surgery and the acquisition risks appear too high for most," he told the BBC.

Too many stores?

When Wilko fell into administration it had 408 stores across the UK, many of them in High Street locations in traditional town centres.

While these locations are convenient for shoppers without cars, since the pandemic there's been a shift to bigger retail parks and out-of-town options with more space.

"The purchase of 51 Wilko stores by B&M may have left the remainder of the estate less attractive for any purchaser," said Charles Allen, retail analyst at Bloomberg Intelligence.

"It seems likely that poor, or outdated locations, were one reason for Wilko's demise, so if some of the better ones were no longer available, a deal to rescue the remainder may have become more difficult."

Richard Lim said Wilko's focus on the High Street had not helped it keep up with its rivals.

"B&M and Home Bargains have really invested in their stores and since the lockdowns in the UK, customers are really after that shopping experience.

"Wilko also struggled to join up their online and in-store operations," he added.

Retail analyst Catherine Shuttleworth said Wilko's problems were a result of bad decision-making by the owners.

"There were simply too many stores in the Wilko estate," she said.

"A cut to 250 stores would have been a sensible move by the owners of the business - tough decisions were needed but they simply weren't made.

"As the market became more competitive post-Covid and the shopper changed their shopping habits permanently, Wilko failed to act and this ultimately led to the position they are in today."

But nevertheless, many customers told the BBC they would be upset if their local Wilko closed.

"It's a bit like the old Woolworths," one said. "It would be a huge loss - not everyone likes online shopping."

Are you affected by the issues raised in this story? Share your experience by emailing haveyoursay@bbc.co.uk.

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The beloved discount retailer was founded in 1930 but now all 400 stores are set to close within weeks.

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•You are the financial manager of a medium-sized manufacturing company. The company has experienced steady growth over the past few years, but recently, it has faced some challenges in managing its day-to-day cash flow. Due to increasing customer demand, the company needs to buy more raw materials, but it is struggling to pay its suppliers on time because of delayed customer payments.

•The company has enough assets to cover the costs but is facing a short-term cash shortage.

•Question:

•How would you, as the financial manager, address this cash flow issue?

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What specific lessons from the Wilko story can SMEs apply to avoid similar financial pitfalls?

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What specific lessons from the Wilko story can SMEs apply to avoid similar financial pitfalls?

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Working capital represents the difference between a company's current assets and its current liabilities. It is a measure of a company's ability to cover its short-term obligations with its short-term assets.

Current assets: Assets that a company expects to convert into cash or use up within one year or within the company's operating cycle, whichever is longer.

Current Liabilities: The debts or obligations that a company needs to settle within one year or within its operating cycle, whichever is longer.

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Debt financing refers to the process by which a company raises capital by borrowing money from external sources, such as banks, financial institutions, or investors, with the agreement to repay the principal amount along with interest over a specified period. It is one of the primary methods businesses use to fund their operations, expansion projects, or other capital needs.

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Equity financing is a method of raising capital by selling shares of a company to investors in exchange for ownership stakes. Unlike debt financing, equity financing does not require repayment or interest payments, but it involves sharing future profits and decision-making control with shareholders.

Key Features of Equity Financing:

1. Ownership Sharing: Investors become part-owners of the company, typically gaining voting rights proportional to their shareholding.

2. No Repayment Obligation: Unlike debt, equity does not require the company to repay the funds or pay regular interest.

3. Profit Sharing: Shareholders are entitled to a share of the company’s profits through dividends or increased stock value.

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Bonds are a type of debt instrument that companies, governments, or other entities issue to raise funds from investors. When an entity issues a bond, it is borrowing money from bondholders with a promise to pay back the principal amount on a specific maturity date, along with periodic interest payments, known as coupon payments.

Key Features of Bonds:

1. Issuer: The entity that issues the bond (e.g., corporations, governments, municipalities).

2. Face Value (Par Value): The amount the issuer agrees to pay back at maturity, usually $1,000 per bond.

3. Coupon Rate: The interest rate paid on the bond’s face value, typically semiannually or annually.

4. Maturity Date: The date on which the bond’s principal amount is repaid.

5. Yield: The return an investor earns from the bond, influenced by market price, interest rates, and the bond’s coupon rate.

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A venture capitalist (VC) is an investor or a firm that provides capital to start-up businesses and companies that are in their early stages or experiencing significant challenges. These businesses typically have high growth potential but also come with substantial risks due to a lack of established track records, unpredictable future growth, and unproven products or services.

Venture capitalists invest in these companies in exchange for an equity stake, meaning they become part-owners of the business. Unlike traditional loans, VC funding does not require repayment with interest. Instead, the return on investment is tied to the success and eventual profitability of the business. If the business performs well, the venture capitalist may realize high returns when the company is sold or goes public.

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The SEC stands for the Securities and Exchange Commission. It is a government agency in the United States responsible for regulating the securities industry, including the stock and bond markets. The primary role of the SEC is to ensure fair, orderly, and efficient markets, protect investors, and facilitate capital formation.

Key Functions of the SEC

1. Enforcing Securities Laws: The SEC enforces laws that govern how securities are issued and traded. This includes monitoring insider trading, fraud, and market manipulation.

2. Regulating Public Offerings: Companies must file registration statements and provide detailed financial disclosures before offering shares to the public, ensuring transparency for investors.

3. Overseeing Financial Markets and Participants: The SEC regulates stock exchanges, brokerage firms, investment advisors, and mutual funds to ensure compliance with securities laws.

4. Protecting Investors: It ensures that investors have access to significant information about securities they are buying and prevents deceptive practices.

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What would be the main benefits of Debt Financing? 

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What would be the main benefits of Debt Financing? 

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What are the primary drawbacks of debt financing?

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What are the primary drawbacks of debt financing?

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What are the main benefits and drawbacks of equity financing 

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What are the main benefits and drawbacks of equity financing 

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A financial intermediary is an institution or individual that acts as a middleman between savers and borrowers, facilitating the flow of funds in the financial system. These entities help channel funds from those who have excess capital (investors or savers) to those who need it (businesses or individuals), ensuring the efficient allocation of resources in the economy.

1. Commercial Banks

Commercial banks accept deposits from individuals and businesses, providing safe storage for money. They offer loans and credit facilities to borrowers, earning interest on these loans. Banks also provide services like checking accounts, savings accounts, and payment processing.

2. Mutual Funds

Mutual funds pool money from multiple investors to invest in a diversified portfolio of stocks, bonds, or other securities. Investors buy shares of the mutual fund, giving them a proportional claim on the fund’s assets and returns. Mutual funds offer professional management and diversification.

10 Best Mutual Funds Of January 2025 – Forbes Advisor

3. Pension Funds

Pension funds collect contributions from employees and employers to provide retirement benefits. These funds invest in various securities to generate returns that will pay future pensions. They are typically managed by professional fund managers to ensure long-term growth and stability.

4. Credit Unions

Credit unions are member-owned financial cooperatives that provide banking services, such as savings accounts and loans, to their members. They often offer lower interest rates on loans and higher interest on savings than traditional banks, focusing on member benefits rather than profit.

5. Hedge Funds

Hedge funds pool capital from accredited or institutional investors and employ various strategies to generate high returns. These funds often use complex financial instruments and leverage to maximize gains, typically with higher risks compared to traditional investment funds.

Largest Hedge Funds Ranked by AUM in 2025

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What does a top-notch portfolio of mutual funds look like? It looks like a juggernaut. If it were a baseball team, it would be the type that wins 110 regular season games, then goes undefeated in the playoffs before sweeping its way to the World Series title. It’s ready to take on all challenges.

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Investment banks help companies raise capital by underwriting new stock or bond issues. They purchase securities from the issuing company and then sell them to the public or institutional investors. The bank assumes the risk of selling the securities, earning fees and a spread for their service

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Inventory
Inventory refers to the goods and materials a business holds for the purpose of resale or production. It represents one of the most significant current assets for companies in manufacturing, retail, and distribution.

Types of Inventory:

Raw Materials: Components used to produce finished goods.

Work-in-Progress (WIP): Partially finished products in the production process.

Finished Goods: Products ready for sale to customers.

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Receivables refer to amounts of money that a company is entitled to receive from its customers or other parties for goods or services delivered on credit.

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Payables refer to amounts of money a company owes to its suppliers or creditors for goods or services received on credit. These amounts are considered current liabilities on the balance sheet because they are expected to be paid within a short period, typically within 30 to 90 days.

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In two minutes, write down as many keywords as you can remember from today's first class.

These could include terms, concepts, or any important points discussed.

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Short-term notes (or short-term notes payable) are financial obligations that a company must repay within a year or within its operating cycle, whichever is longer. These notes are formal, written promises to pay a certain amount of money (plus interest, if applicable) to a creditor by a specific date.