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The Latest Breaking News from Hilco

The discount retailer files bankruptcy and begins going out of business sales.

The Street

WH Smith shares rise - but stark gap between high street and travel stores shows weakened hand for sale of shops

The group said total high street sales dropped 6 per cent while travel shops saw 6 per cent growth

The Independent UK

WH Smith reveals falling high street sales amid talks to sell the division

The group said total high street sales dropped 6% in the 21 weeks to January 25, down 3% on a like-for-like basis, while travel shops saw 6% growth.

Evening Standard

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Uncertainty for WH Smith high street shops as private equity firms ponder deal

It is understood private equity groups Hilco and Alteri are among parties to raise interest over a possible takeover of WH Smith’s high street arm.

Evening Standard

Homebase has collapsed into administration leaving 2,000 jobs at risk - this is what the news means for shoppers

The future of 49 Homebase stores are unclear

Ideal Home

Homebase collapses into administration with thousands of jobs at risk

Future of 2,000 staff remains unclear despite the bulk of stores being bought by the homeware retailer The Range

The Guardian - UK

Bankrupt clothing retail chain liquidates, closes all stores

The casual clothing chain will liquidate and shutter its stores and transition to a wholesale and e-commerce business model.

The Street

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Sainsbury’s to buy 10 Homebase stores and convert them into big supermarkets

First shop in £130m investment to open next summer as questions raised over DIY chain’s future

The Guardian - UK

Superdry to quit stock market as part of shake-up plans

Superdry today launched a restructuring plan aimed at saving the once mighty brand which will see it raise cash and slash rents.

Evening Standard

Meet Hilco, the firm behind the scenes at Wilko failure and other high street collapses

Restructuring specialist made its name through dealings with some of best-known British retailers

The Guardian - UK

Superdry is still standing – but a turnaround from here would be a tall order

Co-founder Julian Dunkerton’s faith is undimmed despite £148m loss and City view that ‘execution risk remains high’

The Guardian - UK

Wilko job cuts ‘suspended’ after union calls for urgent government talks

A spokesperson for the union said it was not yet clear how long the suspension might last

Evening Standard

Wilko: union seeks urgent meeting with business secretary over administrators

GMB asks Kemi Badenoch to ensure PwC considers all bids for collapsed retailer as 12,500 jobs are at stake

The Guardian - UK

Wilko administrators urged to accept rescue deal after second bid

Last-minute white knight bid worth £90m from M2 Capital follows earlier offer from owner of HMV

The Guardian - UK

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The Guardian - UK

Experts sceptical Wilko deal will emerge with creditors in driving seat

Administrators put creditors’ interests over those of employees – and for creditors, liquidation may be the best option

The Guardian - UK

HMV owner makes last-ditch bid to rescue Wilko

Proposal by Doug Putman could save 350 stores and 10,000 jobs as union calls for employees to be prioritised

The Guardian - UK

Wilko to close ‘majority of stores’ with loss of thousands of jobs

UK retailer, which has about 400 shops, likely to shut some branches ‘in near future’ after no buyer found

The Guardian - UK

Wilko bidders given two days to submit offers with 12,000 jobs at stake

Administrator PwC understood to have brought deadline forward as retailer risks running out of money

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The Guardian - UK

Customer anger after Wilko helplines shut down as administrators called in

PwC says it will restart helpline and chat system ‘soon’ as it tries to find buyer for all or part of business

The Guardian - UK

Wilko suspends home deliveries as it holds talks on rescue deal

Budget retailer and adviser PwC have until Monday to find new funding

GoodToKnow

Is Cath Kidston closing down? What we know as Next buys the retailer

Shoppers are asking if Cath Kidston is closing down, after UK retailer Next buys the chain for £8.5 million.

Chicago Sun-Times

Chicago is required to have a chief administrative officer; it hasn’t for decades

The city’s inspector general cited the Hilco smokestack demolition debacle as one of 11 “missed opportunities” where interdepartmental coordination could have been improved had a chief administrative officer been on the job — as is required under city code.

Chicago Sun-Times

Little Village groups want answers from City Hall, Ald. Rodriguez after Hilco report

A previously secret watchdog report accuses city officials of being negligent and incompetent before the Crawford plant implosion coated the community in dust in 2020.

Chicago Sun-Times

Mayoral candidates should explain how they will hold powerful institutions accountable for causing harm

We need solutions to prevent interpersonal violence, including eliminating economic disparities and investing in community resources.

Chicago Sun-Times

City was ‘negligent,’ showed ‘incompetence’ protecting Little Village from pollution, report finds

A once-secret inspector general’s report says City Hall dropped the ball on Crawford plant implosion in 2020.

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Tyler Pasciak LaRiviere

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