1 year ago
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ARTICLE AD BOX
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A fresh rescue bid for Wilko has emerged as efforts to save the retail chain continue.
Private equity firm M2 Capital has confirmed it has made a £90m bid for the business, and has pledged to retain all employees' jobs for two years.
The bid by M2, first reported by the Guardian, is one of several offers being considered by administrators.
Wilko fell into administration earlier this month, putting 12,500 jobs and 400 stores at risk.
The administrators for Wilko, PwC, set a deadline of Friday last week for bids for the chain, and are understood to be reviewing offers over the weekend.
The owner of HMV, Canadian businessman Doug Putman, is also interested in buying some of Wilko's stores.
Wilko, well known for its affordable everyday items, has been struggling with sharp losses and a cash shortage.
The company has faced strong competition from rival chains such as B&M, Poundland, The Range and Home Bargains, as the high cost of living has pushed shoppers to seek out bargains.
There has been speculation that some of those rivals could also be interested in the firm.
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