1 year ago
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Image source, Alamy
A caller rescue bid for Wilko has emerged arsenic efforts to prevention the retail concatenation continue.
Private equity steadfast M2 Capital has confirmed it has made a £90m bid for the business, and has pledged to clasp each employees' jobs for 2 years.
The bid by M2, first reported by the Guardian, is 1 of respective offers being considered by administrators.
Wilko fell into medication earlier this month, putting 12,500 jobs and 400 stores astatine risk.
The administrators for Wilko, PwC, acceptable a deadline of Friday past week for bids for the chain, and are understood to beryllium reviewing offers implicit the weekend.
The proprietor of HMV, Canadian businessman Doug Putman, is besides interested successful buying immoderate of Wilko's stores.
Wilko, good known for its affordable mundane items, has been struggling with crisp losses and a currency shortage.
The institution has faced beardown contention from rival chains specified arsenic B&M, Poundland, The Range and Home Bargains, arsenic the precocious outgo of surviving has pushed shoppers to question retired bargains.
There has been speculation that immoderate of those rivals could besides beryllium funny successful the firm.
English (US)