Two homeware retail stores in Torfaen could close after Wilko warned it was going into administration.

The nationwide chain has around 400 stores across the UK, including Cwmbran and Pontypool. Today it filed a notice of intention (NOI) to appoint administrators.

Wilko CEO Mark Jackson released a statement: “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 NOI.”

National media reports say the chain employs around 12,000 staff, although it’s not known many work in Torfaen’s two stores.

Torfaen MP Nick Thomas-Symonds and Torfaen MP Lynne Neagle gave a joint statement this afternoon:

“With branches in Pontypool and Cwmbran, the news that Wilko intends to appoint administrators is extremely concerning.

“The loss of both these stores would be devastating for our town centres.

“The hardworking staff deserve reassurance about their jobs, and the support that will be made available to them at this difficult time.

“We will be writing to Wilko’s CEO to outline our concerns and request to be kept updated as the situation progresses.”