The historic high street chain fell into administration last week
Wilko administrators have given potential bidders a Wednesday deadline to table offers to buy the firm.
It is understood that administrators from PwC have set the deadline as they quickly seek to strike a deal which could save jobs. y. Some 16 stores could close across Greater Manchester if the retailer does go under. Wilko is continuing to trade and has not announced any redundancies after formally entering insolvency last week.The retailer’s chief executive Mark Jackson said last Thursday it had received “a significant level of interest” but was “left with no choice but to take this unfortunate action” after being unable to close a solvent sale.
The administration process means that bidders are not expected to take on all the company’s liabilities, such as costly debts, as part of any deal. It is understood Wilko held talks with private equity firms Gordon Brothers, which owns Laura Ashley, and Alteri, which owns Bensons for Beds, as it sought funding to keep it afloat before ultimately entering administration.
It is not clear if either party will enter the latest process to potentially buy the Wilko brand, stores or other assets.Join our WhatsApp Top Stories and Breaking News group by clicking this link
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