New last minute bid emerges for Wilko
The administrators for the collapsed discount chain Wilko have received a second last-minute bid for the retailer.
Private equity firm M2 Capital has put forward a bid that would keep the entire Wilko chain trading.
The bid is understood to have been submitted late on Friday. Based in London, M2 is in the process of acquiring US car parts maker Superior Industries.
M2’s managing director Robert Mantse told the BBC that if the company’s bid was accepted, it would guarantee all employees’ jobs for a period of two years.
The news comes just a few days after HMV owner Doug Putman made a last-ditch offer that would look to keep the majority of Wilko stores open.
Administrators PwC are understood to be reviewing all offers for the business over the bank holiday weekend after setting a deadline of Friday for receipt of bids.
A spokesperson for PwC told the BBC: “As administrators, we’re intent on achieving the best outcome for everyone involved while preserving as many jobs as possible and adhering to our statutory duty to act in the interests of the creditors as a whole. It would be inappropriate to comment on the individual bidders or interested parties at this stage in the process.”
Founded in 1930, Wilko grew to become one of the UK’s biggest discount chains but struggled against rivals such as B&M, Poundland and Home Bargains in recent years.
