BARGAIN hunters are already clearing the shelves at Worcester's Wilko store as the high street retailer announced plans to appoint administrators.

Some shelves were already empty - or at least starting to look a bit bare - at the store in the city's High Street.

But there was still plenty of stock available as customers browsed for deals.

It has been revealed Wilko has already closed or scheduled to close 14 stores around the UK over the past year including the Redditch branch.

Wilko's future in Worcester is still in the balance as just over 400 stores are at risk of closure after the announcement on Thursday (August 3) that the high-street retailer had filed a notice of intent with the High Court to appoint administrators.

Wilko chief executive officer Mark Jackson revealed the company expected to enter insolvency after failing to secure a takeover to help the business with “mounting cash pressures”. 

Wilko currently has 408 stores across the UK and last week's insolvency news puts around 12,000 jobs at risk.

Worcester News: GOING: Some shelves looked a bit bare after shoppers snapped up deals GOING: Some shelves looked a bit bare after shoppers snapped up deals (Image: Newsquest)

At the city's branch, UniBond sealant appeared to be a popular choice for shoppers with only a few cannisters remaining on the shelves.

Some shelves were nearly empty with reduced to clear signs on display.

Light bulbs also appeared to be a popular choice and placemats were selling fast.

READ MORE: Wilko stores that have closed in the UK in the last year

READ MORE: Wilko stores in the UK at risk of closing due to insolvency

The company’s chief executive confirmed the move on Thursday which could put some 12,500 jobs at risk.

However, it is hoped that some of the 400 stores at risk could be rescued after it was revealed there are "significant levels of interest”.

Worcester News: SELLING: Some products were selling fast at Wilko in Worcester High Street SELLING: Some products were selling fast at Wilko in Worcester High Street (Image: Newsquest)

Recommended by Wilko chief executive Mark Jackson said he will continue to push the interested parties to "move as fast as possible".

The Mirror reported that 14 Wilko stores have already closed, or been scheduled to shut, over the past year - The Fort Birmingham, Bournemouth, Shipley, Stockton, Scunthorpe, Narborough Road in Leicester, Rotherham, Skegness, Grantham, Merthyr Tydfil, Cleethorpes, Woolwich, Redditch and Llanelli.

In his statement announcing the intention to appoint administrators, Mark Jackson said: "While we can confirm we’ve 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’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.

“Unfortunately, with this in mind, today we’re having to take the difficult decision to file a notice of intention.

“We’ll 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’re in discussions with to move as fast as possible.

“We 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.”