Deputy business editor, Greg Wright, on the latest Wilko news

Transcript

00:00 Hello, my name is Greg Wright.

00:02 I'm the Deputy Business Editor of the Yorkshire Post.

00:05 And here are your business headlines for this morning.

00:07 The GMB Union has said that there are genuine grounds

00:11 for hope of the future of the retailer Wilco

00:15 after it attracted interest from potential suitors.

00:20 The retailer tumbled into administration last week,

00:22 putting the future's 400 shops

00:24 and 12,500 staff at risk.

00:28 Administrators from PWC swiftly sought offers

00:30 from potentially interested firms,

00:32 which could save the jobs and the stores.

00:35 It is understood that bidders will set a deadline

00:37 of Wednesday to register their interest,

00:40 but the insolvency process is continuing

00:42 as PWC assesses options for the retailer and its assets.

00:47 Now, GMB, which has met the company and its administrators

00:50 as part of the consultation process,

00:52 indicated that a deal could be struck

00:55 to save some of the jobs and the stores.

00:58 Andy Prendergast, who's a GMB National Secretary said,

01:03 "We can confirm there have been expressions of interest

01:05 "in organisations who are considering taking over

01:07 "at least some parts of the business.

01:09 "These are still at an early stage,

01:11 "but means there are genuine grounds for hope."

01:14 So some positive news there potentially for Wilco,

01:18 with GMB Union saying there are genuine grounds for hope

01:21 as the retailer continues to seek suitors

01:25 after falling into administration last week.

01:29 My name's Greg Wright,

01:30 I'm the Deputy Business Editor of the Yorkshire Post.