Wilko looks likely to fall into administration today as hopes of a solvent rescue deal for the retailer fade.
The chain is expected to appoint PwC as administrator today, according to Sky News.
Wilko had been in talks with private equity firms Laura Ashley-owner Gordon Brothers, Bensons for Beds-owner Alteri and OpCapita as well as a rival retailer as it sought a rescue deal.
However, talks have stalled and a source told the publication that an administration today Thursday was “inevitable”.
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The retailer filed a notice of its intention to appoint an administrator last Thursday but had hoped to broker a solvent sale in the interim.
Wilko would be the biggest high street casualty in years and would put 12,000 jobs in jeopardy.
The retailer had filled the gap left by the collapse of Woolworths in 2008, but has since faced increasing competition from value retailers including B&M and Home Bargains.
In a bid to boost its balance sheet after swinging to a £36.6m loss last year, the chain has borrowed £40m from restructuring specialist Hilco, axed more than 400 jobs and sold several of its distribution centres.
It emerged today that Wilko had suspended home deliveries on its website
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