HMV owner's bid for UK retailer Wilko falls through

HMV owner Doug Putnam was in talks to save thosuands of jobs at struggling UK retailer Wilko. Photo: JUSTIN TALLIS / AFPHave you recorded a funny video or filmed the moment of fame, cool dance, or something bizarre?A last-ditch bid to save thousands of jobs at struggling UK household goods retailer Wilko has collapsed, the owner of the HMVCanadian businessman Doug Putnam was in talks with administrators PricewaterhouseCoopers to buy some 200 shops at Wilko, which went bust in August.

But he said those discussions to rescue it as a going concern had reached an end, despite having backing from Wilko management, staff and PwC. "We had financing in place and received the full support of PwC, Wilko management and staff representatives," he said in a statement.

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Over 10,000 more jobs to go at UK's Wilko after partial rescue failsMore than 10,000 staff will lose their jobs at struggling UK household goods retailer Wilko, administrators said Monday, after last-ditch talks on a rescue deal with the owner of the HMV music store chain collapsed. Wilko, which operated some 400 stores across the UK and online, announced its collapse on August 10, putting 12,500 jobs at risk.
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