Bidders for Worksop based Wilko given till Wednesday to put in their offers

Bidders for crisis-stricken retailer Wilko have been given a Wednesday deadline to table offers to buy the firm.

Over 400 stores and 12,500 workers are facing jeopardy if they historic high street chain cannot pull itself out of administration.

Administrators PwC have set the deadline telling GEM106 they hope to secure a deal "by the beginning of next week".

Wilko is continuing to trade and has not announced any redundancies after formally entering insolvency last week.

The administration process means that bidders are not expected to take on all the company's liabilities, such as costly debts, as part of any deal.

It is understood Wilko held talks with private equity firms Gordon Brothers, which owns Laura Ashley, and Alteri, which owns Bensons for Beds, as it sought funding to keep it afloat before ultimately entering administration.

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