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, employing approximately 12,000 people.