THERE are fears for Wilko stores in the borough after the budget store chain entered administration after failing to secure a rescue deal, putting around 12,000 jobs in jeopardy.

The chain, which runs more than 400 stores across the UK, told staff on Thursday that it has hired administrators from PwC to oversee the process.

The chain has a store on Silk Street in Leigh - and the loss of them would be another significant blow for the town centre.

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Mark Jackson, chief executive officer of Wilko, said the firm had “a significant level of interest” but was “left with no choice but to take this unfortunate action” after being unable to close a deal within time.

In a letter, Mr Jackson said: “Over the past six months Wilko has been very open that we’ve been considering options to accelerate a turnaround plan given that we needed to make significant changes to the way we operate to restore confidence and stabilise our business.

“We left no stone unturned when it came to preserving this incredible business but must concede that with regret, we’ve no choice but to take the difficult decision to enter into administration.

“We’ve all fought hard to keep this incredible business intact but must concede that time has run out and now, we must do what’s best to preserve as many jobs as possible, for as long as is possible, by working with our appointed administrators.”

In a statement yesterday, the St Helens North MP Conor McGinn said the uncertainty about Wilko's future "is very concerning, particularly for staff in our local St Helens and Earlestown stores".

He added: "I am in touch with management and the union and have offered full support for efforts to rescue the company."