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Wilko stores and jobs still at risk as HMV bid to rescue workers ‘collapses’

The bid by the owner of HMV, Doug Putman, to rescue Wilko has reportedly failed, leaving jobs still at risk.

According to reports, the bid by the Canadian business and Wilko administrators PricewaterhouseCoopers (PwC) was over a “slimmed-down deal”. This was believed to be to save 100 Wilko sites, reports The Mirror.

Reports from Sky News say the deal collapsed over the costs associated with taking on Wilko’s infrastructure. An executive close to the talks has now said they expect PwC to look into striking a deal with the owner of Poundland.

Read More: The Yorkshire Wilko stores set to close for good later this week

This would also aim to take on 100 stores. However, it is unclear if this deal would also save the staff working at the stores.

Earlier this month, the HMV owner alongside his financial backer Gordon Brother, was reportedly finalising a deal with Wilko to save up to 300 of 400 Wilko stores potentially protecting more than 8,000 of Wilko’s 12,500 workforce. Sky News reports the deal was “reshaped” several times and that it was close to being signed off last week.

Now the deal has collapsed, meaning many stores are likely to be lost alongside jobs. One insider told Sky News last week that PwC had been “preoccupied with preserving as many of Wilko’s workforce as possible” in the month since its collapse.

PwC has declined to comment.

Read More: World News | Entertainment News | Celeb News

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