POPULAR high street retailer Wilko has suspended its home deliveries as the firm tries to find a “rescue deal” to avoid collapsing.

It comes after Wilko chief executive officer Mark Jackson confirmed the news last week (August 3) which could see all 408 UK stores and 12,000 jobs at risk.

Mr Jackson said: “While we can confirm we’ve had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present, we don’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.

“Unfortunately, with this in mind, today we’re having to take the difficult decision to file a notice of intention.”

Wilko suspends home deliveries for customers

In the company’s latest update to its customers and at the time of writing, those who can't travel to their local store will not be able to have Wilko orders delivered to their home.

The homeware, stationery and hardware brand said it is unable to deliver any orders, instead instructing shoppers to use its click-and-collect service or look for items in its stores.

The note on its website on Wednesday (August 9) said the service was "currently unavailable".

The administration process provided the group with 10 working days to find a buyer for all or part of the business to avoid Wilko from going bust.

The company is looking for a potential buyer and is understood to have held talks with interested parties.

Gordon Brothers, which owns the Laura Ashley brand, is reported to be among those to have held discussions over a possible deal to secure Wilko’s future.

Mr Jackson added: “We’ll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business and will encourage those interested parties we’re in discussions with to move as fast as possible.

“We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.”