Employee representatives have recently been informed of possible job losses and store closures at a major high street retailer.  

Wilko announced that it had fallen into administration after it failed to secure a rescue deal on August 10.  

The chain, which runs more than 400 stores across the UK and has a shop in Watford High Street, told its 12,000 staff that it has hired administrators from PwC to oversee the process.

Today (August 23), PwC said it has it has held “extensive” talks with parties who had an interest in buying some or part of the business.

They added: “While discussions continue with those interested in buying parts of the business, it’s clear that the nature of this interest is not focused on the whole Group.

“Sadly, it is therefore likely that there will be redundancies and store closures in the future, and it has today been necessary to update employee representatives.”

Watford Observer: Wilko in Watford High Street.Wilko in Watford High Street. (Image: Newsquest)

PwC said that stores will remain open and continue to trade and staff will be paid.

“Contrary to speculation, there are currently no plans to close any stores next week,” they said.

The PwC spokespeople, Jane Steer, Zelf Hussain and Edward Williams, added that Wilko staff will be “supported through this time”.