Wilko enters administration
93year old retailer trades from 400 stores
Failed to secure emergency investment
PwC to keep stores open, talking to interested parties
Warns if talks fail, store closures and job cuts likely

LONDON, Aug 10 Reuters British homeware and household goods discount retailer Wilko said it had fallen into administration on Thursday, putting its 400 stores and 12,500 jobs in danger if a buyer can39;t be found.

The familyowned retailer sought protection from creditors after failing to secure emergency funding, having suffered a cash squeeze following a downturn in trading.

We left no stone unturned when it came to preserving this incredible business but must concede that with regret, we39;ve no choice but to take the difficult decision to enter into administration, Wilko Chief Executive Mark Jackson said.

Administrator PwC said the retailer39;s stores would continue to trade without any immediate redundancies as talks with interested parties continue.

However, PwC warned If buyers for some or all of the group are not found, it is likely that store closures and redundancies will follow.

Wilko, which sells everything from hardware goods to cleaning products, toys and gardening equipment, has an annual turnover of 1.2 billion pounds 1.53 billion.

It is Britain39;s biggest retail casualty since convenience store chain McColl39;s collapsed in May last year. McColl39;s was subsequently bought by supermarket group Morrisons.

Jackson said Wilko…