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Wilko: A new offer for the struggling retail company

As efforts to salvage the retail chain continue, a new rescue proposal for Wilko has surfaced.

M2 Capital, a private equity group, has revealed that it has made a £90 million offer for the company and has promised to keep all positions for two years.

One of numerous bids being taken under consideration by administrators is the one made by M2, which was originally published by the Guardian.

Early this month, Wilko entered administration, endangering 12,500 jobs and 400 outlets.

The chain's administrators, PwC, had a deadline of last Friday for bids, and it is believed that they are currently assessing submissions over the weekend.

Doug Putman, the Canadian businessman who owns HMV, is also interested in purchasing some Wilko's locations.

The well-known retailer Wilko, famed for its inexpensive everyday goods, has been dealing with significant losses and a liquidity crunch.

Due to the high cost of living, which has caused consumers to look for deals, the company has had to contend with fierce competition from competitor chains including B&M, Poundland, The Range, and Home Bargains.

There have been rumors that some of these competitors may also be considering the company.