DOUBTS have grown about the credibility of Wilko’s rescue after a British entrepreneur reportedly funding a bid rubbished the claims last night and said he had no interest. M2 Capital, a private eq…
, the floral and furnishings retailer, and now owns investments ranging from America’s second biggest paint brand, Kelly-Moore, to pump manufacturer Pleuger.
Mr Flack’s denial that he will provide financing will undoubtedly heap further scrutiny on M2 Capital’s claims it can save the entire Wilko business. Administrators at PwC have been sceptical about the credibility of M2 Capital, which had resisted several requests to show proof of funds or a business plan for Wilko.to provide the basic necessary documents to be taken as a serious buyer.
Sources told The Sun that there was a call between both sides yesterday morning, which led to the firm being given access to Wilko’s “data room” - a term given to a virtual treasure trove of financial documents in deals. Sources said M2 Capital has asked for a further two days to review the terms of Wilko’s 400 shop leases.It will mean the second time a deadline for Wilko buyers has passed, almost three weeks after the
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