Ecommerce group, OnBuy, has joined a list of suitors for collapsed high-street retailer, Wilko.
Cas Paton, the Founder and CEO of the company wrote last night that they would: “try and keep the household brand part of English history for time to come – We’re waiting on news. Fingers crossed 🤞”
However, it transpires that it won’t be looking to acquire its bricks and mortar stores, Paton added: “We will never be a retailer. All I can say at this point.”
OnBuy, which Paton founded in 2016 claims to be one of the country’s fastest growing online marketplaces and has been touted as a potential unicorn.
Founded in Bournemouth, the company has a base in Manchester – Paton’s home city.
OnBuy made the bid following news that M2 Capital’s bid to rescue the entire Wilko group – including all 400 stores and staff had collapsed.
Administrator, PwC, said that it would start making redundancies next week.
The GMB Union stated:
“12,500 jobs cannot be sacrificed for a few pence in the pound for creditors. If there are viable bids that protect jobs – these must be prioritised.
“The focus of Wilko’s administrators must be a fair deal for the workers.”
OnBuy isn’t the only potential bidder in the running, with HMV’s owner, Doug Putman thought to be in the lead, as he plans to keep 300 of its stores open. That could lead to thousands of the 12,500 staff keeping their jobs.
Other deals believed to be on the table include The Range, which, much like OnBuy would be interested in acquiring just the brand and ecommerce operation.
B&M, Poundland and Home Bargains are thought to be interested in acquiring stores.
