The retailer was unable to find emergency investment to save its shops
Wilko has collapsed into administration putting 12,000 jobs at risk.
The high street homeware retailer was unable to find emergency investment to save its 400 shops across the UK.
The company had been looking to secure a white knight for the business which has been trading since 1930, the BBC reported.
Wilko, which is still owned by the founding Wilkinson family, has already suspended home deliveries.
This is a breaking news story. Check back for updates.