Discount retailer Wilko to pay quarterly rent bills in monthly instalments
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Retailer Wilko tells shop landlords that it will pay quarterly rent bills in monthly instalments as it tries to manage cash flow in run-up to Christmas
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Discount retailer Wilko has told shop landlords that it will pay its quarterly rent bills in monthly instalments as it tries to manage cash flow in the run-up to Christmas.
The company blamed the move on ‘supply chain volatility’ and the ‘inflation we’re all suffering’, The Sunday Times reported.
Sign of the times: Wilko blamed the move on ‘supply chain volatility’ and the ‘inflation we’re all suffering’
It is also said to be close to refinancing a £37.5m revolving credit facility.
Wilko chief executive Jerome Saint-Marc said: ‘Trading is tough… and we’re having to make smart choices. We’re confident in our financial stability and have strong plans.’