Wilko in administration: What went wrong?

Wilko formally collapsed into administration today, putting 12,000 jobs at risk in a move that seemed sadly inevitable in recent months.
Over the past year the business has struggled with a lack of cash and poor product availability, which had led to many shoppers ditching the retailer.
In recent weeks, the retailer’s owners had been looking to sell a controlling stake as it raced to secure the chain’s future.
Although there had been a “significant level of interest” acco