Wilko stores could close 'within weeks' after PricewaterhouseCoopers (PwC) failed to find a buyer for the chain.

PwC said that parts of the group could still be bought, but this news means that local shops and jobs are at risk, including Stamford's Wilko, which has been selling items off as shelves became bare this week.

Earlier this month it was announced that the Wilko had fallen into administration after failing to secure emergency funding. Putting many stores at risk. 

The company, which was founded in Leicester in 1930, is well known for its affordable everyday items.

After the collapse of Woolworths in 2008, Wilko - which is still family run - stepped up to fill the gaps left on High Streets.

But it has been struggling with sharp losses and a cash shortage.

Yesterday, 23 August, the GMB Union, which represents thousands of Wilko employees, released a statement that said the majority of Wilko stores are set to close within weeks after a purchase of the discount retailer fell through. 

It was claimed that the GMB Union originally stated that stores would close in a week, something that the PWC denied. 

The union explained that in a meeting with the PwC, it was made clear that there would no longer be a takeover of the whole business. 

GMB said: "This means redundancies for staff in store and at call centres will begin during the coming week. Some stores may be bought, either individually or as part of larger packages, but significant job losses are now expected."

PwC also released a statement on the same day, they confirmed that while talks are still ongoing the interest from buyers was not for the whole business. 

They said: "It is therefore likely that there will be redundancies and store closures in the future and it has today been necessary to update employee representatives.

"In the immediate term, all stores remain open, continue to trade and staff continue to be paid. Contrary to speculation, there are currently no plans to close any stores next week."

Both the GMB and PwC said they would be supporting members/staff through this process. 

Andy Prendergast, the GMB National Secretary, said: "We will fight to ensure people are held accountable for this situation for the simple reason our members deserve so much better. 

"GMB will not forget the incompetence that has led to this collapse and will we not forget the dividends paid to the millionaires who gambled workers jobs on their whims. "