THE private equity firm circling Wilko has asked for a two-day extension to a bid deadline, extending the uncertainty faced by 12,500 workers.
M2 Capital, a firm led by former metals banker Robert Mantse and without any previous retail experience, made a late offer to rescue Wilko last week.
Administrators at PwC have been sceptical about the credibility of M2 Capital, which had resisted several requests to show proof of funds or a business plan for Wilko.
PwC had given M2 Capital a deadline of 5pm yesterday to provide the basic necessary documents to be taken as a serious buyer.
Sources told The Sun that there was a call between both sides yesterday morning, which led to the firm being given access to Wilko’s “data room” – a term given to a virtual treasure trove of financial documents in deals.