HMV owner makes last-ditch bid to rescue Wilko

Proposal by Doug Putman could save 350 stores and 10,000 jobs as union calls for employees to be prioritised

The Canadian entrepreneur who owns HMV has put in a last-ditch bid to rescue the discount retailer Wilko with a proposal that could save 350 stores and 10,000 jobs.

The new bid emerged as union leaders called for Wilko's 12,500 employees to be prioritised, after an earlier offer from Doug Putman was rejected because debt holders could recoup more from a break-up of the business.