WILKO AND OUT

MPs hear from tearful chairwoman | Failure to adapt to market changes | 'Huge dividends taken out of firm' | 'Wilko failed as we ran out of cash'

- GRAHAM HISCOTT

Head of Business THE granddaughter of Wilko's founder apologised to axed workers yesterday, while admitting her family netted millions in payouts in the years prior to its collapse.

Appearing emotional before MPs, chairwoman Lisa Wilkinson said she was "devastated" by its demise.

She added: "I will be thanking my team members and my customers to my dying day.

Yet her words came as she was accused of making "significant management mistakes" that led to empty shelves and money wasted. More than 12,000 staff lost their jobs when Wilko went to the wall in August.

The collapse also left a £50million black hole in Wilko's pension scheme.