Redundancies at Wilko will not be proceeding while administrators consider further bids.
Last minute deals have come from M2 Capital, an Anglo-Canadian restructuring specialist and HMV owner Doug Putman.
Budget retail chain Wilko officially went into administration on August 10. The firm has stores in Ramsgate and Westwood Cross.
Hopes of rescuing the chain had faded after failure to agree a rescue plan. It means 400 stores and 12,000 jobs are at risk.
However the GMB Union met with administrators PwC this morning [Tuesday] to discuss multiple bids which have been made for the discount retailer.
Andy Prendergast, GMB National Secretary said:“All redundancies at Wilko have been suspended while the administrator considers further bids.
“Whilst this is a positive development, Wilko is not out of the woods by any means and this is a time of incredible stress and worry for the 12,500 workers who face losing their jobs.”
The business was founded in Leicester in 1930 by James Kemsey Wilkinson and remains in the ownership of the founding Wilkinson family.
The business traded under the Wilkinson name until 2014, when it rebranded as Wilko.
It catered for the demands for DIY products in the 1950s, created the first Wilko product range in the 1970s, launched online shopping in the 2000s and was the first to sell 100% plastic-free wipes across our whole range.
