LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

The insolvency service has paid out £42 million to almost 10,000 former Wilko workers

Philip Roth by Philip Roth
November 25, 2023
in UK
The insolvency service has paid out £42 million to almost 10,000 former Wilko workers
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Inside DSF Antique Jewelry: How a 50-year legacy became a global force in luxury and investment-grade collectibles – London Business News | London Wallet

Can caring for employee wellness really save your business thousands through retention? – London Business News | London Wallet

Can cash ISAs keep pace with inflation? What the data shows – London Business News | London Wallet

Since the collapse of Wilko the Insolvency Service has paid almost 10,000 former workers £42 million.

Since the collapse of Wilko the agency has paid out statutory notice pay and redundancy which was owed to the staff affected.

The Insolvency Service said that 9,800 payments has been made thus far and each claim has been paid out within 24 hours to the affected former Wilko workers.

Redundancy Payments Service (RPS), senior operations manager, Rob Graham said, “The whole RPS team has been working around the clock to make payments to former Wilko employees as quickly as possible.

“We know how difficult it is for former employees at times like these.”

Tax deductions: Keep more of your money

Also the former bosses of Wilko are to be questioned by MPs to explain why there is a £50 million shortfall in the companies pension fund.

They will also be questioned as to why they lined their own pockets” and dished out “millions to shareholders” leaving the company in debt.

Chairwoman Lisa Wilkinson will be asked why her family had taken out millions in dividends even though Wilko was in debt.

“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.”



Source link

Share30Tweet19
Previous Post

Retailers have been given a ‘good prod’ by the CMA as fuel prices sharply fall

Next Post

Aptos survey: 88% of Gen Z shoppers in UK plan to visit a physical store this Golden Quarter

Philip Roth

Philip Roth

Recommended For You

Inside DSF Antique Jewelry: How a 50-year legacy became a global force in luxury and investment-grade collectibles – London Business News | London Wallet
UK

Inside DSF Antique Jewelry: How a 50-year legacy became a global force in luxury and investment-grade collectibles – London Business News | London Wallet

December 2, 2025
Can caring for employee wellness really save your business thousands through retention? – London Business News | London Wallet
UK

Can caring for employee wellness really save your business thousands through retention? – London Business News | London Wallet

December 2, 2025
Can cash ISAs keep pace with inflation? What the data shows – London Business News | London Wallet
UK

Can cash ISAs keep pace with inflation? What the data shows – London Business News | London Wallet

December 2, 2025
Trump told EU will not agree to any peace deal unless Putin is punished for ‘war crimes’ – London Business News | London Wallet
UK

Trump told EU will not agree to any peace deal unless Putin is punished for ‘war crimes’ – London Business News | London Wallet

December 2, 2025
Next Post
Aptos survey: 88% of Gen Z shoppers in UK plan to visit a physical store this Golden Quarter

Aptos survey: 88% of Gen Z shoppers in UK plan to visit a physical store this Golden Quarter

Related News

Disney’s stock pops after CNBC says activist investor ValueAct has been building a stake

Disney’s stock pops after CNBC says activist investor ValueAct has been building a stake

November 15, 2023
Mt. Gox moves B in BTC to unknown address

Mt. Gox moves $3B in BTC to unknown address

July 16, 2024
Mumtalakat and Investcorp look to form joint venture

Mumtalakat and Investcorp look to form joint venture

July 11, 2023

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?