All 400 Wilko stores will close in early October leaving 12,500 workers out of a job three months before Christmas.
The GMB Union has accused Wilko bosses of running the business “into the ground” and the administration of the company is a “tragedy without a cause.”
Following a meeting on Monday the union who represents more than 3,000 Wilko staff gave the update after meeting with administrators.
On Monday morning we reported that in a last-ditch attempt by the owner of HMV to rescue the company the deal collapsed.
Nadine Houghton, GMB national officer, said, “This isn’t a tragedy without cause. Wilko should have thrived in a bargain retail sector that is otherwise strong, but it was run into the ground by the business owners.
“Money was siphoned out of the business for dividends, warnings about what needed to be done to save the business were not heeded and advice around what the business had to do to thrive was not listened to.
“No worker caused the downfall of Wilko. But they will be the ones who will suffer – all as the owners get off scot-free.
“GMB will not stop campaigning for the owners of this debacle to be held to account.”
Labour’s shadow business secretary Jonathan Reynolds said, “This is heartbreaking news for staff and their families who have been holding out hope of a deal that would protect their jobs.
“Sadly, shuttered-up shops have become the norm under the Conservatives who have weakened the foundations of our economy with local high streets paying the price.”