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Wilko has “no immediate plans” to close stores, despite the company calling in administrators.

The retailer has more than 400 stores across the UK, including one on Blackwood High Street.

Wilko has filed a Notice of Intention (NOI) to appoint administrators due to financial problems, its chief executive Mark Jackson confirmed on Thursday August 3.

When asked by Caerphilly Observer if the Blackwood store was at risk of closure, a Wilko spokesperson said: “There are no immediate store closures planned as a result of the announcement today, and the business continues to trade as usual during this period.”

Last month, Wilko told Blackwood’s independent councillor, Kevin Etheridge, it had “no plans” to close the store.

Cllr Etheridge described the latest news as a “bombshell” and said: “It really concerns me.”

“Wilko has been in Blackwood for decades and it gets a lot of business and creates employment.”

Cllr Etheridge highlighted the store’s location at the lower end of the high street, next to Maxime Cinema, and said: “I worry for the staff, for the high street and for the community.

“It’s a major anchor store in Blackwood and a lot of people go there.”

Wilko Chief executive Mr Jackson confirmed the business has yet to receive an offer from a potential investor to provide the “necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with”.

He continued: “Unfortunately, with this in mind, today we’re having to take the difficult decision to file an NOI.  

Mr Jackson added: “We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.

“We’re a £1.2bn turnover business with strong presence on UK high streets through our 400 stores, online at wilko.com and through our great value Wilko own brand products, serving local communities with their everyday household and garden needs for over 90 years.”