B&M and Poundland in running to snap up Wilko from administration

Wilko collapsed into administration last week putting more than 12,000 jobs at risk and PwC has given suitors until the end of tomorrow to make rescue offers for the chain.

Rival discount and value retailers including B&M, Poundland, The Range and Home Bargains have all reportedly expressed interest in parts of the business, according to The Sun – raising hopes that at least some jobs at Wilko may be saved.

Wilko currently employs more than 12,000 people and has around 400 shops, and its collapse has raised the prospect of significant redundancies.

Mark Jackson, the stricken retailer’s chief executive, said last week that Wilko’s senior management had “left no stone unturned” in trying to turn the business around without going into administration.

As part of the process, suitors will be able to make bids for parts or all of Wilko – although a rival buying the entire business is reportedly unlikely.

Wilko has started an “administration sale” in many of its shops, while it emerged over the weekend that the retailer had paid out a total of £77m to its owners and shareholders in the decade leading up to its collapse.