What: The FT explores the reasons why such a giant with so much at stake (12,500 employees) could not be saved.

Why it is important: Beware of whom you partner with. Many critics point out the role of the administrator, PwC, in the final failure.

Wilko, a 93-year-old discount retailer, faced potential collapse with most of its 12,500 staff facing redundancy. Initial optimism about finding a buyer faded. Doug Putman, owner of HMV, withdrew a potential offer citing legacy problems and high costs in running Wilko's systems. Issues with suppliers and reduced stock levels further complicated rescue efforts. M2 Capital's interactions with administrators PwC were contentious. Wilko's administration generated more customer interest, boosting sales temporarily. The Range acquired Wilko's brand and website. Critics question dividend payments made to family owners in recent years.

The reasons of Wilko’s shutdown