Home Business News The insolvency service has paid out £42 million to almost 10,000 former Wilko workers

The insolvency service has paid out £42 million to almost 10,000 former Wilko workers

by LLB Finance Reporter
25th Nov 23 3:06 pm

Since the collapse of Wilko the Insolvency Service has paid almost 10,000 former workers £42 million.

Since the collapse of Wilko the agency has paid out statutory notice pay and redundancy which was owed to the staff affected.

The Insolvency Service said that 9,800 payments has been made thus far and each claim has been paid out within 24 hours to the affected former Wilko workers.

Redundancy Payments Service (RPS), senior operations manager, Rob Graham said, “The whole RPS team has been working around the clock to make payments to former Wilko employees as quickly as possible.

“We know how difficult it is for former employees at times like these.”

Tax deductions: Keep more of your money

Also the former bosses of Wilko are to be questioned by MPs to explain why there is a £50 million shortfall in the companies pension fund.

They will also be questioned as to why they lined their own pockets” and dished out “millions to shareholders” leaving the company in debt.

Chairwoman Lisa Wilkinson will be asked why her family had taken out millions in dividends even though Wilko was in debt.

“It’s only right Wilko bosses should be forced to explain themselves to MPs,” said Nadine Houghton, GMB national officer.

“They ignored all warnings about their company’s financial future – lining their own pockets and dishing out millions to shareholders before leaving 10,000 people jobless.

“Wilko workers deserve answers from the company that crushed their livelihoods, while UK taxpayers will want to know why they’ve had to pay millions in redundancy payments.

“Hopefully, the select committee will get those answers.”

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