The biggest high street names that have gone bust since the pandemic
Wilko has been handed a lifeline after it collapsed into administration, with a 48-hour deadline reportedly put on bids to take over the franchise.
Last week the brand joined a long list of high street retailers that have fought to survive the pandemic and cost-of-living crisis.
On Thursday, it announced it had failed to secure a rescue deal and was entering administration, putting 400 stores and 1,200 jobs at risk.
But a lifeline appeared to emerge on Monday, with Wilko's administrators PwC reportedly telling rivals they have until Wednesday to submit any bids to take over the franchise.
The company is currently still trading and has not yet announced any redundancies but has launched a huge sale, promising '1000’s of reductions'.
Last week chief executive Mark Jackson said Wilko had received "a significant level of interest" but was "left with no choice but to take this unfortunate action" after being unable to close a deal in time.
Administrators said the retailer has suffered "increasing cashflow pressure and a deterioration in trading" after sales were impacted by the pandemic and cost-of-living crisis.
Read more: Wilko boss admits ‘writing was on the wall’ as high-street chain puts 12,000 jobs at risk
Wilko now joins an ever-growing list of businesses that have closed shop since 2020. Here, Yahoo News UK lists those that have gone bust.
Debenhams
Debenhams is the biggest name to go under since the start of the pandemic and went into administration in December 2020.
The final stores closed on 15 May 2021, bringing an end to the department store's 242-year history.
Around 12,000 jobs were lost and this came after the company made several painful cuts throughout the previous few years in an attempt to return to profitability.
Several businesses expressed interest in saving the chain but no final deal could be struck.
Although the fiscal brick-and-mortar shops are now gone, during the administration process Boohoo bought the Debenhams brand for £55m.
Debenhams now exists as an online-only clothing shop.
Read more: Debenhams set to shut shop after 242 years as pandemic hammers UK retail (Reuters, 3 mins)
Topshop, Topman and Arcadia Group
The Arcadia Group that owned Dorothy Perkins, Topshop and Topman finally collapsed in November 2020.
The chain once dominated British high streets and was one of the trendiest fashion brands.
But it struggled to stay afloat as the 2010s ended and the pandemic proved to be the final nail in the coffin.
The empire run by Sir Philip Green had £750m worth of debts when it collapsed.
Some 13,000 jobs were lost and there was a huge scandal over the fate of the group's pension fund.
Asos eventually bought Topshop, Topman Miss Selfridge and HIIT for £265m.
Read more: Pressure on Sir Philip Green to fill Arcadia's £350m pension scheme hole (Yahoo Finance, 3 mins)
Victoria's Secret
Lingerie chain Victoria's Secret UK went into liquidation in June 2020 after years of enjoying success on Britain's high streets.
The brand said the pandemic was the main cause of the collapse of the business.
More than 800 jobs were lost when the UK arm of the US giant collapsed with the loss of 25 stores.
The brand still survives in online sales and outside of the UK, but it has been struggling for years.
Falling sales and questions over its owner Leslie Wexner's ties to disgraced financier Jeffrey Epstein had dogged the company for a long time.
However, it still remains the largest lingerie retailer in the US.
The UK arm was bought out by Next in 2020 and still operates some Victoria's Secret stores within their brand.
Read more: Coronavirus: Almost 11% of UK stores are vacant as pandemic hammers high street (Yahoo Finance, 2 mins)
Paperchase
Paperchase struggled throughout the pandemic after the stationary chain collapsed into administration in 2021 and finally closed its stores in March 2023.
The chain, which enjoyed highly successful expansion in its early years, closed 37 stores in 2021 and its remaining 106 shops in 2023.
Tesco bought the Paperchase brand soon after it collapsed, bringing some stationary products to its supermarkets.
Read more: Paperchase site left empty transformed into new use (The Argus, 1 min)
Oasis and Warehouse
Clothing chains Oasis and Warehouse collapsed early into the pandemic in April 2020, putting 2,000 jobs at risk.
Operating as Oasis Warehouse the two chains had collectively 92 stores across the UK.
The brand was quickly snapped up by Boohoo for £5.3m a month after its collapse, preserving it as an online store but removing the brands from the high street.
Read more: Boohoo sees sales surge in first quarter, adds Oasis to online range, (Reuters, 1 mins)
Made.com
Online furniture retailer Made.com struggled to survive the pandemic, despite the boom in people investing in their homes during lockdown.
It collapsed in November 2022 with the loss of 400 jobs.
Next bought out the brand and website during the administration process, but did not bring the staff along with it.
It was a sharp downturn for the company, which launched on the London Stock Exchange in 2018 with a valuation of £775m.
It was only worth £2.1m when it collapsed.
Read more: How Made.com went from a pandemic-era business superstar to a failed company in just 18 months (The Conversation, 5 mins read)
Cath Kidston
Cath Kidston collapsed in March 2023, with Next again buying the brand.
The stores were closed as the struggling fashion and homeware brand barely stayed afloat during the pandemic.
It fell into administration in 2020 and closed the majority of its stores at the time, with 1,000 jobs lost.
By the time of its final collapse, only 125 people were still employed.
Its last stores were in London, Ashford, Cheshire Oaks and York before being closed permanently.
Read more: Next to buy Cath Kidston out of administration – but jobs will be cut (PA, 2 mins)
