Wilko rescue deal collapses

Budget retailer Wilko will have to close 400-plus stores after talks with potential buyers failed to deliver a rescue deal

Administrators from PwC informed staff this week that all 408 stores will close their doors permanently by early October. It will cause the loss of more than 12,000 jobs.

It comes after a deal that was on the table from the billionaire owner of HMV, Doug Putman, collapsed.

The Canadian businessman had made an offer for around 300 stores, which would have saved at least 9,000 jobs, before the budget retailer fell into administration. But talks to secure a deal ultimately fell through, leaving thousands facing redundancy.  

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