Staff have been left in the lurch after high street retailer Wilko officially filed for administration this morning, putting its 408 UK stores at risk of closure.

Wilko announced its collapse into administration this morning (August 10) following days of speculation as the company scrambled to secure a solvent rescue deal.

A staff member at the Wilko store inside the Chilterns Shopping Centre in High Wycombe said it was their "manager's day off", and they had "no idea" what the future holds for the store. 

CEO Mark Jackson confirmed that PwC had been appointed as administrator of the company, describing it as an "unfortunate action" that was necessary given the "cash position" of the brand, which was previously reported to be considering rescue offers from private equity firms including the owners of Bensons for Beds and Laura Ashley.

READ MORE: Shoppers clear shelves in Wilko amid closure speculation

Mr Jackson added: “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’ve 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, by working with our appointed administrators.”