Wilko, the collapsed discount retailer, is launching another round of price cuts on top of its 'administration sale' after the deadline for bids for the company passed on Wednesday.
Slashing prices on numerous products as part of a supplementary 'secondary sale' at 400 stores, the retailer will add new signage to stores on Friday to promote these discounts, according to reports from The Sun newspaper.
Administrators PwC are currently considering various bids for Wilko and is expected to make a decision regarding the future of the chain in the coming week.
B&M, Poundland, Benson for Beds owner Alteri, The Range, Gordon Brothers and Homebase owner Hilco are among the contenders rumoured to have expressed interest in submitting offers for Wilko.
Despite its recent struggles, all Wilko stores have remained operational since the appointment of administrators, with no job cuts having taken place yet.
Optimistically, the GMB union suggests there are promising indications that portions of Wilko might be acquired.
Andy Prendergast, national secretary at the GMB, said: “We can confirm there have been expressions of interest from organisations who are considering taking over at least some parts of the business.
“These are still at an early stage, but this means there are genuine grounds for hope. Whilst this process continues staff will continue to be paid and kept on.”