“Save Wilko’s 12,000 employees”: Union calls on administrator PwC to “carefully examine” the offers.

At a meeting with union officials today, the Wilko administration is urged to “carefully consider” the offers that would save most jobs.

A GMB spokesman said it had been a “roller coaster” weekend after it appeared for staff “all hope had vanished” as chief executive PwC warned of looming layoffs at the ailing household goods chain.

The union, which represents some of its 12,000 workers, hopes management will clarify the reasons for rejected offers today.

The GMB said it wanted assurances that administrators would not “flip back” any “credible offers”.

PwC has tried to offer maximum value to creditors, including restructuring specialists Hilco, who are owed £40m.

Meeting: The GMB union, which represents some of Wilko’s 12,000 workers, hopes the administration will clarify the reasons for rejected offers today

But last night the GMB wrote to Business Minister Kemi Badenoch about “extremely worrying” allegations that some bidders were having “difficulty” in getting in touch with PwC and that there was a “clear conflict of interest” for Hilco which it said “both acted as advisor” to the company and a creditor”.

Last week it was announced that thousands of layoffs and hundreds of store closures would begin shortly after talks to find a buyer broke down.

But there were hopes the job losses could be avoided for two years after an eleventh-hour bid was made by M2 Capital over the weekend. The private equity firm is also targeting a 3.5 percent pay rise for its employees.

“We have the best offer on the table,” M2 chairman Robert Mantse told the Mail after submitting a formal offer three minutes before Friday’s deadline.

Canadian tycoon Doug Putman, who owns HMV, is also offering to bail out 350 stores and pay off debts at Hilco. Wilko’s competitors B&M and Poundland are also negotiating the takeover of some of their branches.