BREAKING: Wilko collapses into administration

Wilko has formally collapsed into administration, appointing PwC to lead the process, as 12,000 jobs are put at risk.
The retailer had been trying to broker a solvent rescue deal since it filed a notice of its intention to appoint an administrator last Thursday.
It was in talks with private equity firms Laura Ashley-owner Gordon Brothers, Bensons for Beds-owner Alteri, and OpCapita, as well as a rival retailer, however, those discussions have stalled, leading it to formally appoint PwC.
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