All 400 Wilko stores across the UK including in Stamford and Oakham to close as rescue deal from owner of HMV in the UK and Toys R Us in Canada fails

All of Wilko’s stores across the UK are set to close this year as a rescue deal fell through.

It has been reported that all 408 stores are to close with the loss of over 12,000 jobs in early October.

Wilko has stores in High Street, Stamford, and Westgate in Oakham.

The rescue deal proposed by the owner of HMV in the UK and Toys R Us in Canada, to take over half of Wilko’s stores failed as rising costs complicated the bidding.

It was said that no bidders are interested in running the chain under Wilko's name, although people are interested in rebranding their stores.

B&M has said it will take on up to 51 of Wilko's stores in a deal worth £13m.

Wilko’s two big warehouses in Worksop, Nottinghamshire, and Newport, Wales are to close next Friday.