Wilko has suspended home deliveries as desperately tries to find a rescue deal ahead of calling in administrators. The homewares, garden supplies, DIY and stationery chain 鈥 which is headquartered in Worksop, Notts 鈥 told online customers it is unable to deliver any orders, telling them to use its click and collect service or look for items in its 400 shops.

Last week the chain, which employs around 12,500 people, announced it had filed a notice of intention to appoint administrators at the High Court after failing to find fresh backing. The process gave it 10 working days to find a buyer for all or part of the business to avoid going bust.

The company is looking for a potential buyer and is understood to have held talks with interested parties.

Gordon Brothers, which owns the Laura Ashley brand, is reported to be among those to have held discussions over a possible to deal to secure Wilko鈥檚 future.

Last year Wilko agreed a deal to borrow 拢40 million from restructuring specialist Hilco after posting significant losses.

But earlier this year, the retailer 鈥 founded in Leicester back in 1930 when JK Wilkinson opened his first 'Wilkinson's' store 鈥 hired advisers from PwC in a bid to find a buyer to try and secure fresh funding.

And last Thursday, Wilko said it had 鈥渘o choice鈥 but to file for the potential insolvency but would continue a possible rescue takeover.

Announcing the insolvency preparations, chief executive Mark Jackson said: 鈥淲hile we can confirm we鈥檝e had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present we don鈥檛 today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we鈥檙e faced with.

鈥淲e鈥檒l continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business and will encourage those interested parties we鈥檙e in discussions with to move as fast as possible.

鈥淲e continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.鈥