 are now looking into rescue offers. Last week the private equity firm M2 Capital told the BBC that it had made a £90million bid to save Wilko. This offer is thought to be able to preserve Wilko's entire operations - including its 400 stores and 12,500 staff. However, The Sun reports that PwC is "sceptical" about the credibility of M2 Capital and has asked them to provide proof they can take it on. M2 Capital is headed by Robert Mantse who is a former PwC mergers and acquisitions expert in Russian metals and mining. Robert Mantse told The Sun that M2 Capital was currently in talks with a "British-born billionaire who lives in the US" about financing the Wilko rescue deal. Since M2 Capital's offer, it has been reported that the company owns a "string of luxury hotels under the Como brand". However, Robert Mantse told The Sun that the company has yet to build a single hotel under this brand but "was on the cusp of getting $1billion funding". If the company cannot provide proof and give confidence to PwC by the deadline today, the administrators will likely proceed with other rescue offers. The discount chain has reportedly received several bids from a range of sources. The owner of HMV, Canadian businessman Doug Putman, has reportedly been in discussions to save Wilko. Other retailers said to have put in an offer for Wilko include Poundland, which could snap up 100 stores, and B&M, which is said to b){kind=link}
Last week the private equity firm M2 Capital told the BBC that it had made a £90million bid to save Wilko which is thought to be able to preserve Wilko’s entire operations – including its 400 stores and 12,500 staff
The administrator handling rescue offers for Wilko has given private equity firm M2 Capital a deadline of 5pm today to prove whether it can commit to its bid of taking over the collapsed retailer.
Wilko collapsed into administration earlier this month, putting the future of its 400 shops and 12,500 workers at risk. Administrators at PricewaterhouseCoopers (PwC) are now looking into rescue offers. Last week the private equity firm M2 Capital told the BBC that it had made a £90million bid to save Wilko. This offer is thought to be able to preserve Wilko’s entire operations – including its 400 stores and 12,500 staff.
However, The Sun reports that PwC is “sceptical” about the credibility of M2 Capital and has asked them to provide proof they can take it on. M2 Capital is headed by Robert Mantse who is a former PwC mergers and acquisitions expert in Russian metals and mining.
Robert Mantse told The Sun that M2 Capital was currently in talks with a “British-born billionaire who lives in the US” about financing the Wilko rescue deal. Since M2 Capital’s offer, it has been reported that the company owns a “string of luxury hotels under the Como brand”. However, Robert Mantse told The Sun that the company has yet to build a single hotel under this brand but “was on the cusp of getting $1billion funding”.