Administrators to discount chain Wilko have won the backing of creditors for a rescue deal led by HMV tycoon Doug Putman.
PwC is understood to have secured support from the Pension Protection Fund, an industry-backed lifeboat, as well as other creditors, including major landlords and suppliers, for the deal.
Putnam is understood to be keen to save as many of Wilko’s 400 shops as possible, although the final number could be closer to 300, depending on negotiations with landlords.
A deal could be announced as early as today.
Talks with the trustees of Wilko’s pension fund, which is said to carry a deficit of about £50m on a buyout basis, have centred around its £20m worth of security over a number of Wilko’s freehold properties.
