The owner of HMV is reportedly attempting to save Wilko as fears that the store would collapse spread across the nation.

Earlier this month it was announced that the Wilko had fallen into administration after failing to secure emergency funding. Putting many stores at risk. 

Then, last week, it was reported that Wilko stores could close 'within weeks' after PricewaterhouseCoopers (PwC) failed to find a buyer for the chain.

PwC said that parts of the group could still be bought, but this news means that local shops and jobs are at risk, including Oakham's Wilko, which has been selling items off as shelves became bare this week.

However, it appears that all is not lost for Wilko as the owner of HMV, Doug Putman, is striving to save the high street chain.

The company, which was founded in Leicester in 1930, is well known for its affordable everyday items.

After the collapse of Woolworths in 2008, Wilko - which is still family run - stepped up to fill the gaps left on High Streets.

But it has been struggling with sharp losses and a cash shortage.

On, 23 August, the GMB Union, which represents thousands of Wilko employees, released a statement that said the majority of Wilko stores are set to close within weeks after a purchase of the discount retailer fell through. 

It was claimed that the GMB Union originally stated that stores would close in a week, something that the PWC denied. 

The union explained that in a meeting with the PwC, it was made clear that there would no longer be a takeover of the whole business. 

GMB said: "This means redundancies for staff in store and at call centres will begin during the coming week. Some stores may be bought, either individually or as part of larger packages, but significant job losses are now expected."

PwC also released a statement on the same day, they confirmed that while talks are still ongoing the interest from buyers was not for the whole business. 

However, it appears that there is still hope for the homeware chain as last-chance discussions get underway.

Rutland and Melton MP, Alicia Kearns, said: "The owner of HMV is finalising a deal to rescue the majority of Wilko's operations, salvaging more than 8,000 jobs at the stricken high street retailer.

"I await more details, but this I hope is very good news for those employed locally by Wilko."