A deal from HMV to save 300 Wilko stores has fallen through, meaning all 400 stores across the UK will close this year - including two in Stoke-on-Trent.

HMV's billionaire owner, Doug Putman, had tabled plans to rescue the large majority of Wilko stores, but on Monday 11 September his bid was pulled due to rising costs.

Following this deal collapse, the GMB Union has confirmed all 408 Wilko stores will close by early October, including the stores in Hanley and Longton.

This means redundancies are now likely for all 12,500 staff working for the discount retailer.

GMB Union has confirmed all 408 Wilko stores will close by early October (Nub News).

Mr Putman said: "It is with great disappointment that we can no longer continue in the purchase process for Wilko having worked with administrators and suppliers over several weeks to seek a viable way to rescue it as a going concern.

"We had financing in place and received the full support of PWC, Wilko management and staff representatives, which we are deeply thankful for considering what a challenging time it has been for them.

"However, commitment to overhauling the trading framework of the business with partners and the costs of running Wilko's legacy operations infrastructure combined has meant a stable foundation could not be secured to ensure long term success for the business and its people in the way that we would have wanted."

On September 6, Wilko announced a list of 52 stores set to close this month.

Doug Putman's plans to rescue the vast majority of Wilko stores collapsed on Monday 11 September due to rising costs (Wikimedia Commons).

Closures begin on Tuesday 12 September with 24 stores shutting their doors, including nearby Winsford.

On Thursday 14 September, a further 28 Wilko stores will close, including Stockport and Rhyl.

Rival retailer, B&M, has confirmed it will spend £13 million take on 51 of Wilko's branches, with these set to be rebranded as B&M shops.

Wilko is currently open in Crewe's Market Shopping Centre 8am until 7pm (Monday to Saturday) and 10am until 4pm (Sunday) (Wilko).

It is yet to be made clear whether any jobs will be saved or Wilko workers will be given preference if they apply for roles at the new B&M shops.

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