A high street homeware retailer has announced it has collapsed into administration.

Tensions have been high around Wilko's future after it was announced last week that the popular store has filed a notice of intent to appoint administrators.

Today (August 10), the chief executive of Wilko has said the retailer was left with “no choice” but to enter into administration after leaving “no stone unturned” in efforts to revive the business.

In an open letter, Mark Jackson said: “Over the past six months Wilko has been very open that we’ve been considering options to accelerate a turnaround plan given that we needed to make significant changes to the way we operate to restore confidence and stabilise our business.

“We left no stone unturned when it came to preserving this incredible business but must concede that with regret, we’ve no choice but to take the difficult decision to enter into administration.

“We’ve all fought hard to keep this incredible business intact but must concede that time has run out and now we must do what’s best to preserve as many jobs as possible, for as long as is possible, by working with our appointed administrators.”

It puts the Slough, Maidenhead and Reading stores at risk of closure.