Wilko collapses into administration after rescue talks fail

Dozens of stores expected to close after UK budget retailer fails to find new funding, putting 12,000 jobs at risk

The troubled budget retailer Wilko is calling in administrators, putting more than 12,000 jobs at risk after it failed to agree a rescue deal.

The family-owned household and garden products retailer, which has about 400 stores, is expected to have to close dozens of outlets, leaving big gaps on high streets after weeks of talks with interested parties.