THE deadline for Wilko rivals to submit indicative bids to save the collapsed chain has passed.
Yet there’s still hope for the beloved retailer after insiders told The Sun that this deadline isn’t set in stone.
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Sources noted that bids would still be considered if someone made an offer later this evening.
At the moment, administrator PwC hasn’t yet confirmed how many bids, if any, have been submitted to rescue Wilko.
But sources said this morning that if there was several bids by the end of today it would still take “a while” to process.
They went on to say that it would be “unlikely” for PwC to comment on the issue this evening.
The administrators had given potential buyers until 5pm today to make any indicative offers.
If it has received rescue offers, the administrators are expected to whittle down a shortlist for second-round bids by Friday.
Wilko collapsed into administration last week after failing to find new backing for the business.
It puts the chain’s 400 stores at risk of closing and around 12,500 jobs on the line.
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The Sun previously reported that several potential buyers have shown an interest in Wilko’s business, and one could save as many as 300 branches from closing down and would preserve the most jobs.
But it is understood that early expressions of interest were mixed, and the majority of offers are for between 40 to 50 stores.
Discount retailers B&M, The Range, Poundland and Home Bargains have all expressed an interest, according to sources – but they would have needed to officially throw their hats in the ring today.
The Sun understands one of the potential bidders would be keen to keep the Wilko name.
But even if a buyer is found, the insolvency process means that a buyer can pick and choose the parts of a business it wants.
This means that both the stores and the brand could be saved.
Or it may choose to buy no stores at all and instead buy up the remaining stock or brand name only.
Sources cautioned that no deal was guaranteed.
Other rival discounters unlikely to have made an offer include Dunelm, Frasers Group and Iceland.
Sources at both Next and Poundstretcher previously told The Sun that they had no interest in rescuing Wilko.
It comes as shoppers have been sharing their emotional tributes to the discounter, with many comparing it to the loss of Woolworths.
Others were also looking forward to extra bargains ahead of Wilko launching an administration sale this week.
If no bid has been offered to PwC by the end of today the company risks going into liquidation.
This is the process of selling all assets and then dissolving the company completely.
It means that all 400 stores would close and all 12,500 jobs would be lost.
Chief Executive Officer, Mark Jackson, said last week that the company had “left no stone unturned” in a bid to save the chain.
In an emotional open letter to all staff and heartbroken shoppers, Mr Jackson thanked them for their support.
