Wilko - with a store in Coalville - has confirmed this morning (Thursday) that it has entered into administration.

The national home and garden retailer, which started life in the East Midlands, has a shop in the Belvoir Shopping Centre.

Last week, the company confirmed that it was facing collapse and filed an Notice Of Intention.

But today, CEO Mark Jackson, said in an open letter they had "no choice" but to enter into administration.

He said: "Over the past six months we've been open with all our stakeholders including our team members 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.

"I'd like to take this opportunity on behalf of the directors and the Wilkinson family to thank all of our customers and our hardworking team members across our stores, logistics and support centre who remained loyal to Wilko. 

"It's been an honour to have worked alongside you all as we fought to realise and to maximise the significant opportunities that existed to re-establish a profitable Wilko."

The BBC website reports that 12,000 jobs are now at risk across the country.

But it adds the stores will stay open for now, without any immediate job losses, and staff will continue to be paid.

Coalville's Wilko store in the Belvoir Shopping Centre will remain open for now. Photo: Coalville Nub News

PwC has been appointed as administrator and will continue to look for a buyer for all or part of the group.

Jane Steer of PwC said that Thursday's announcement is "an unsettling development for everyone involved with the business - particularly its committed team members - and the communities it serves across the region".

If a firm fails to buy any of the shops or parts of the business out of administration, Wilko risks becoming the biggest High Street casualty this year.

The GMB union said the collapse was "entirely avoidable".

National officer Nadine Houghton added: "GMB has been told time and time again how warnings were made that Wilko was in a prime position to capitalise on the growing bargain retailer market, but simply failed to grasp this opportunity".

The East Midlands Chamber has also issued a statement on Wilko's situation.

Director of partnerships David Pearson said: "This is a very sad day for a great institution of the high street and our thoughts are with the 12,000 people whose livelihoods are affected.

"Wilko has been a huge success story for the East Midlands, having opened its first store in Leicester 93 years ago and located its headquarters in Nottinghamshire for the past half a century.

"But like many retailers it has faced a multitude of structural challenges amid the transition to online shopping and cost pressures.

"Wilko's enormous popularity with customers, which has been evident in many comments by the general public since last week's news about its impending collapse, provides hope there is still an opportunity to save the company in some form.

"More broadly, the demise of another staple of the high street offers further evidence to Government of the need to back businesses by 'getting the basics right', as we set out in our blueprint for economic growth, titled A Centre of Trading Excellence: A Business Manifesto for Growth in the East Midlands and Beyond.

"Specifically, this means a full root-and-branch review of the broken business rates system – which currently severely hampers bricks-and-mortar retail – must be conducted during this Parliament, while outlining a long-term vision for business taxation in all forms would give companies the certainty to plan investments."