Wilko to close instore toy departments to focus on home and garden ranges
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Wilko is set to close its in store toy departments across UK stores to focus on stocking more home and garden products. The family-owned business informed its toy suppliers in a letter while reassuring customers that it will still offer seasonal/outdoor toys at relevant times of the year.
A spokesperson at Wilko said: “To further focus on the household and garden products that our customers come to us for most often, we’re reducing our range of toys instore.
“However, we’ll still be providing seasonal toy products such as paddling pools and Christmas presents to help our customers find fun things to enjoy together during holiday periods.
‘We’ll also be continuing to offer selected toys via wilko.com.”
The news comes after Wilko secured £40m of funding from Hilco UK, one of the high street’s most prolific investors and owner of Homebase and Cath Kidston. The Retail Gazette reports that details of the loan deal were filed at Companies House last month.
It is also thought that Wilko faced financial difficulties during the pandemic and called in advisers from Teneo, a management consulting company to explore cost-cutting and restructuring options in October last year. The Retail Gazette reports that Wilko made a £36.8m loss at the beginning of the year after lockdowns, supply chain disruption and a dip in consumer demand impacted trading.
A date has not been announced for when the toy departments will close at Wilko stores.