Wilko homeware chain on brink of collapse

BBC News says UK homewares retailer Wilko has warned that it is on the brink of collapse because of mounting cost pressures.

The privately-owned company said it had filed a “notice of intention” to appoint administrators after failing to find enough investment.

Wilko employs some 12,000 people across 400 UK stores and is well-known for its value furnishings and accessories.

Chief executive Mark Jackson said it would continue to talk with interested parties about options for the business.