Wilko administrators have stated that jobs will be lost and stores will close after failing to find a buyer for the entire company.

However, PwC stated that sections of the group may still be purchased.

Wilko stated earlier this month that company was entering administration, threatening 12,500 jobs and 400 outlets.

PwC was tasked with locating a buyer for all or a portion of the company.

PwC stated in a statement, “While discussions with those interested in buying parts of the business continue, it is clear that the nature of this interest is not focused on the entire group.”

“Unfortunately, it is likely that there will be redundancies and store closures in the future, and it has become necessary to update employee representatives today.”

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PwC said it realized the news would add to workers’ uncertainty and that it would support them.

It stated that, for the time being, all stores would remain open and trade, and that employees would be paid.

It went on to say that there were “currently no plans to close any stores next week.”

Earlier, the union representing Wilko employees stated that the majority of outlets would close “within weeks” if a purchase fell through.

The GMB stated that while some establishments may be purchased, “significant job losses” are now likely.

Andy Prendergast, the union’s national secretary, stated that the organization will work to ensure that its members “receive every penny” to which they are entitled.

“We will fight to ensure Wilko bosses are held accountable for the simple reason that our members deserve so much better,” he continued.

The Leicester-based company, which was started in 1930, is well known for its low-cost everyday things.