Wilko's Former Owners Say They Won't Help with Pension Debt

Wilko's former owners, Amalgamated Holdings Wilkinson Limited (AHWL), have announced they will not assist in addressing the retailer's £70 million pension deficit, leaving thousands of former employees in a precarious situation. The discount chain, which collapsed a year ago, resulted in the loss of 12,500 jobs and the closure of 398 stores. AHWL, owned by the founding Wilkinson family, claims through legal counsel that they bear no obligation to fund the pension shortfall, asserting that they do not recognize any liability for the deficit. The pension shortfall comes in the wake of £77 million being distributed to the owners over the decade leading up to the company's collapse. This has sparked outrage among unions and Members of Parliament, who have called for accountability from the owners regarding the financial fallout faced by former employees. AHWL maintains that it has "never been the sponsoring employer" for Wilko pensions, distancing itself from the responsibility of the pension scheme. Former Wilko employees are now looking to The Pensions Regulator to intervene and potentially hold the company's owners accountable for the pension deficit. Atul Shah, a professor of accounting at City, University of London, who previously testified before MPs about Wilko's downfall, criticized the situation, stating that while the owners prioritized their interests, it is the workers who are left to bear the consequences of the collapse.