Wilko is set to disappear from the high street completely by next month according to the GMB Union.

HMV owner Doug Putman was the UK retail chain's last hope as he tried to work up a rescue bid that would have seen him keep 300 Wilko stores. 

But it was revealed this morning Mr Putman's rescue bid had collapsed due to rising costs leaving more than 12,000 jobs and 400 stores at risk.

GMB Union says all Wilko stores will close by October

The BBC said: "It is understood no bidders are interested in running shops under the Wilko name, although some parties are interested in rebranding stores."

The GMB Union, which represents over 3000 Wilko employees, believes all 408 stores across the UK will now close by early October after a meeting with administrators PwC.

This will result in more than 12,500 redundancies across the UK. 

Nadine Houghton, national officer for the GMB union, said: “Due to the incompetency of Wilko bosses the deal has now run out of time.

“If the owners had been transparent and honest, thousands of loyal Wilko workers may not now be in this awful position.

“This is another devastating blow for them, who have seen their lives and futures gambled on the whims of millionaires and billionaires.

“Wilko bosses should be ashamed that this once great family business now appears to be beyond saving.”

The 90-year-old retail chain tumbled into administration early last month after it came under pressure from weak consumer spending and debts to suppliers.

All Wilko stores at risk of closing

There are currently 400 Wilko stores across the UK (at the time of publication). 

Administrators, PwC, revealed last week 52 stores were set to close in the coming weeks, starting tomorrow (see map above). 

This will result in 1,016 redundancies. 

Wilko stores are currently located across the UK including in places like London (nine stores), Leeds (seven) and Leicester (five).

See the map below to see all 400 Wilko stores in the UK:

Wilko closures will begin tomorrow (September 12) with 24 stores set to shut their doors for good.