The company spent £60m on a warehouse modernisation programme that went wrong, lost £40m on foreign exchange deals and failed to raise enough cash from investors and banks to enable a restructure to cut rents to go through.“Despite those problems you can’t explain why dividends were paid … [nor why] money sloshing around in trusts can’t be used to refund a pension scheme,” Byrne said.
QuoteThe company spent £60m on a warehouse modernisation programme that went wrong, lost £40m on foreign exchange deals and failed to raise enough cash from investors and banks to enable a restructure to cut rents to go through.“Despite those problems you can’t explain why dividends were paid … [nor why] money sloshing around in trusts can’t be used to refund a pension scheme,” Byrne said. Wilko’s former chair tells MPs she was devastated by collapse of retailer https://www.theguardian.com/business/2023/nov/28/wilko-lisa-wilkinson-mps-collapse-retailer
Quote from: ian on 11 September, 2023, 08:13:16 pmExpensive sites, low margins, probably already more competition than there are customers, plus the internet makes getting stuff delivered to your door quick and simple.The cheap Amazon of the high street - insufficient volume for most of the time
Expensive sites, low margins, probably already more competition than there are customers, plus the internet makes getting stuff delivered to your door quick and simple.