The majority of Wilko stores will close 'within weeks', after the retailer went into administration.

The retailer, which has stores in Cheltenham, Gloucester and Stroud, went into administration two weeks ago. Last week, it was reported that its discounter rivals, including Poundland and The Range, might be considering snapping it up.

But yesterday (August 23), administrator PWC met with GMB Union to inform representatives that there was no longer any prospect that the majority of the business will be saved.

This means redundancies for staff in store and at call centres will begin as early as next week.

Some stores may be bought, either individually or as part of larger packages, but significant job losses are now expected.

Andy Prendergast, GMB national secretary, said: "GMB Union will continue to support members through this process and will fight to ensure members are consulted as per the law and that you receive every penny you are entitled to.

"We will fight to ensure Wilko bosses are held accountable for the simple reason our members deserve so much better.

"GMB will not forget the incompetence that has led to this collapse and will we not forget the dividends paid to the millionaires who gambled your jobs on their whims."

Wilko going into administration will put 12,000 jobs at risk.