WILKO COLLAPSES INTO ADMINISTRATION AFTER RESCUE TALKS FAIL

Wilko, has collapsed into administration putting 12,000 jobs, including those within Salford, at risk.

Wilko had been working to secure an emergency deal but none came to fruition.

Earlier this year, Wilco secured £40 million in funding from Homebase owner Hilco, which helped keep the family-owned chain alive for the past six months, sadly this was not enough and gaps on shelves were visible in stores as more and more suppliers turned their back on the company.

Mark Jackson, boss of the beleaguered company, said management had "left no stone unturned" in its attempts to save the company from collapse.

He continued:

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“We left no stone unturned when it came to preserving this incredible business but must concede that with regret, we’ve no choice but to take the difficult decision to enter into administration.

“We’ve all fought hard to keep this incredible business intact but must concede that time has run out and now, we must do what’s best to preserve as many jobs as possible, for as long as is possible, by working with our appointed administrators.”

Administrators from PricewaterhouseCoopers are expected to continue to seek a buyer for at least part of the business following their appointment.

The GMB union said that the collapse was "entirely avoidable".

National officer Nadine Houghton said:

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"GMB has been told time and time again how warnings were made that Wilko was in a prime position to capitalise on the growing bargain retailer market, but simply failed to grasp this opportunity".