Spalding’s Wilko branch due to close as failed rescue bid means all the retailer’s shops are likely to shut

All Wilko stores across the UK look set to close after a rescue deal fell through.

The GMB Union has said that all 408 stores will now close – with the likely loss of more than 12,000 jobs in early October.

It was announced last week that 52 shops are set to close this week, with the Spalding store, in Holland Market, spared from this initial round of closures. However, any hope that it could be saved now appears to have been dashed.

The rescue deal proposed by the owner of HMV in the UK to take over half of Wilko stores failed as rising costs were said to have complicated the bidding process.

Some parties are said to be interesting in rebranding the stores – but none want to keep the Wilko name alive.