Thousands of jobs at risk - including a number in Hucknall and Bulwell - after major retailer files notice of intent to appoint administrators

The boss of the homeware and hardware chain said it is expected to enter insolvency after failing to secure a takeover to help the business with “mounting cash pressures”.

Wilko, which has about 400 shops – including on Central Walk in Hucknall and Main Street in Bulwell – has today filed a notice of intention to appoint administrators at the High Court.

Mark Jackson, Wilko chief executive, said: “While we can confirm we’ve had a significant level of interest, including indicative offers we believe would meet all our financial criteria to recapitalise the business, at present we don’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.

“Unfortunately, with this in mind, today we’re having to take the difficult decision to file a notice of intention.

“We’ll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business and will encourage those interested parties we’re in discussions with to move as fast as possible.

“We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.”

In January, the firm announced the start of a turnaround programme in a bid “to drive Wilko forward... to first stabilise the business and then implement a growth strategy”.

In February, Wilko, which is based in north Nottinghamshire, announced it was launching a click-and-collect service for the first time at all of its stores nationwide. At the time, the household and garden retailer said the new service was “one of the many ways in which the brand is making it easier than ever to shop for the items its customers need”.