Jobs will be lost as efforts to find a buyer for Wilco fail.

[Hereford Voice]

The administrators of Wilko have said jobs are set to go and stores will close after it failed to find a buyer for the whole business.

However, PwC said parts of the group could still be bought.

Wilko announced earlier this month that it was going into administration, putting 12,500 jobs and its 400 stores at risk.

PwC was tasked with trying to look for a buyer for all or part of the business.

On Wednesday evening, trade union representatives warned that the bulk of Wilko's stores would likely close within weeks, raising fears for thousands of retail workers.

Hereford Voice understands that PricewaterhouseCoopers (PwC) is in advanced talks to divide up parts of the 400-store business, with Poundland's owner, Pepco Group, in talks to acquire approximately 100 stores.

According to one insider, B&M European Retail, the London-listed discount giant, is also in talks to acquire between 40 and 50 stores.

Other value retailers, notably TOFS, which is owned by the private equity firm Duke Street, have made approaches to purchase smaller parcels containing approximately ten properties.