Wilko bosses to be questioned by MPs following company’s collapse
The bosses of Wilko will appear before MPs next week to explain the shortfall in the company’s pension fund and why its owners were taking money out of the debt-laden company.
MPs on the Business and Trade Committee said they would question the company’s former chief executive and chairwoman as well as representatives from its auditor EY.
Chairwoman Lisa Wilkinson is likely to be asked about why her family, which controlled the business, had taken millions in dividends despite the firm being heavily indebted.
The MPs are also likely to ask what attempts were made to save the business and probe a £50 million shortfall in Wilko’s pension fund.
Academics, researchers, union representatives and ministers are also among those set to give evidence at the session next Tuesday.
“It’s only right Wilko bosses should be forced to explain themselves to MPs,” said Nadine Houghton, GMB national officer.
“They ignored all warnings about their company’s financial future – lining their own pockets and dishing out millions to shareholders before leaving 10,000 people jobless.
“Wilko workers deserve answers from the company that crushed their livelihoods, while UK taxpayers will want to know why they’ve had to pay millions in redundancy payments.
“Hopefully, the select committee will get those answers.”
Wilko collapsed in August after more than 90 years in business. At the time it ran around 400 shops and employed around 12,000 people.
Press Association – August Graham