Wilko has gone administration after failing to secure a rescue deal, putting around 12,000 jobs in jeopardy.
The chain, which has more than 400 stores across the UK, told staff that it has brought in administrators from PwC to oversee the process.
CEO Mark Jackson said there had been “a significant level of interest” in the business but management were “left with no choice but to take this unfortunate action”.
In a letter, Mr Jackson said: “Over the past six months Wilko has been very open that we’ve been considering options to accelerate a turnaround plan given that we needed to make significant changes to the way we op …
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