Wilko is set to cut over 400 jobs, as it tries to control costs.

Job losses will include assistant store managers, retail supervisors, head office managers and call centre workers, as reported by Retail Gazette.

The retailer, which has stores in Cheltenham, Gloucester and Stroud, plans to cut hours for team supervisors in 150 of its 401 stores, the equivalent of about 150 full-time equivalent job losses, after a fall in sales.

The cuts also include about 150 assistant store managers and around 95 workers from its Nottinghamshire contact centre. Wilko said it is supporting affected individuals.

The retailer said the proposed changes to its management structure will help the business to stabilise and thrive.

At the start of the year, Wilko secured £40m funding from prolific high street investor, Hilco UK.

Wilko reported a £36.8m loss in January and warned it was at risk of running out of cash by the end of 2023 unless trading conditions improved.