The Latest Breaking News from Wilko

Last-minute white knight bid worth £90m from M2 Capital follows earlier offer from owner of HMV

Administrators put creditors’ interests over those of employees – and for creditors, liquidation may be the best option

Wilko has ended all online sales after it entered administration and shoppers can only buy in stores

Shoppers warned to be careful with sales as collapsed budget chain only selling goods in its stores

From chip shops to tech start-ups, and even large, well-established companies, rising interest rates have had an impact right across the business world. After 14 consecutive base rate hikes by the Bank of England since 2021, this is causing particular problems for companies with a lot of debt.

Administrators try to secure rescue deal for retailer, with talks expected to go on well into next week

Collapsed budget retailer’s 12,500 workers wait to hear whether buyer has emerged

Rivals B&M and Poundland, as well as Laura Ashley owner Gordon Brothers are among those said to be interested in saving at least some Wilko stores

Administrator PwC understood to have brought deadline forward as retailer risks running out of money