Why Wilko administration could be only way to secure jobs of 12,000 workers

Administrators for the failed Wilko chain say jobs could go and stores will shut unless they can find a buyer in the next few weeks or months.
Top accounting firm PwC was brought in to take on the affairs of family-owned Wilko today after management failed to bring in fresh funding. However the administrators still hope to find investors and protect the brand.
Wilko, which is headquartered in Worksop, Notts, has built up multi-million pound losses on the back of rising borrowing costs, a cost-of-living crisis, post-Covid disruption to global supply chains and growing competition from the likes of B&M, Poundland, The Range and Home Bargains. Amazon is also said to have taken sales from it.
Last ditch attempts to find fresh investment have come to nothing, putting the future of its 400 store …