BARGAIN retailer Wilko is on the brink of collapse, with 12,000 people at risk of losing their jobs as a result.
The high street retailer today filed a notice of intent to appoint administrators, following reports that the business was exploring the possibility of a sale.
The boss of the homeware and hardware chain said it is expected to enter insolvency after failing to secure a takeover to help the business with “mounting cash pressures”.
“We’ll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business,” Wilko chief executive Mark Jackson said.
The budget store has around 400 shops across the country, meaning store closures could put the jobs of approximately 12,000 people at risk.
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