Major Wilko update as firm puts forward bid that could save all jobs and stores
ALL of Wilko's stores and jobs could be saved after a second last-minute bid was put forward by a private equity firm.
The retailer collapsed into administration earlier this month, putting its 400 stores at risk of closure and 12,500 jobs in jeopardy.
But a second last-minute bid to rescue the ailing business has since been received by M2 Capital, .
The offer is understood to have been put forward late on Friday and would involve keeping the entire Wilko chain trading.
It comes after the billionaire owner of HMV was understood to have made a bid to rescue half of Wilko's stores and thousands of staff.
Doug Putman, who rescued HMV out of administration in February 2019, is furiously reaching out to investors and debt providers in a desperate bid to rescue 200 shops and 4,000 jobs.
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The businessman is hoping to continue running the company under the well-known Wilko name.
However, while discussions are still in play with administrators PricewaterhouseCoopers (PwC), sources have claimed Putman's takeover is "unlikely".
It is predicted a conclusion over Wilko's future will be reached this week, while PwC are still considering other offers.
Discounter chain The Range could acquire Wilko's online operations if a deal with Doug Putman falls through, .
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Meanwhile, German discounter chain Aldi has asked any worker impacted by Wilko's collapse to get in touch about jobs.
Rival chains Home Bargains and Dunelm have also offered staff new roles.
And discount stationery shop The Works said it would "guarantee an interview if there's a role available" for Wilko employees.
It comes after Wilko launched a giant sale across its stores to clear stock, with everything from notebooks and tables on offer.
Shoppers are rushing to get up to 50% off everything.
Two retail experts have shared some of the items worth picking up in the sale, and the ones to avoid.
Wilko boss Mark Jackson issued an emotional statement thanking shoppers and staff following the announcement it would enter administration.
Meanwhile, shoppers were left devastated, reacting to the news on social media.
One said: "This hits home, Debenhams now gone? Now Wilko, which will be next?"
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