THERE is renewed hope for the high street after a fresh rescue bid has emerged for the stricken retailer, Wilkos.

The company collapsed into administration earlier this month, putting more than 400 stores and around 12,000 jobs at risk. The Hereford branch is located in the Maylords shopping centre and concerns have been raised over the future of the property if the company went.

However, following a last-minute £90m bid from restructuring specialist M2 Capita, along with several other offers being considered by administrators, it is possible that Hereford's Wilko store may not be forced to close.

READ MORE:

A spokesperson for PWC said: "Since our appointment as administrators of Wilko, we have worked relentlessly to secure a sale of the business, and talks are continuing with a number of parties."

Reacting to reports of the bid, Andy Prendergast, GMB union secretary, said: "The devil is in the detail but any bid that guarantees jobs must be prioritised.

"Losing Wilko will not only put 12,500 people out of work across the country but would also be another nail in the coffin of the high street.

"PWC must recognise that creditors are not the only people with a stake in this – working people's livelihoods must be the priority."

Canadian businessman Doug Putman, who bought music retailer HMV in 2019, was believed to be making an offer but the BBC reported it is unlikely to meet legal requirements and was speculation.

The owners of Poundland and B&M were also reported to be in talks to acquire around 150 of the Wilko stores last week.

What are your thoughts?

You can send a letter to the editor to have your say by clicking here.

Letters should not exceed 250 words and local issues take precedence.