A huge high street retailer has filed a notice of intent to appoint administrators, putting thousands of jobs at risk.

Bosses at Wilko announced today their decision after spending weeks searching for a deal which could have saved them.

The budget homewares retailer has more than 10 stores across Kent – in Ashford, Canterbury, Folkestone, Sittingbourne, Maidstone, Rainham, Gillingham, Chatham, Strood and Tunbridge Wells.

Mark Jackson, Wilko's chief executive, told the Daily Mail: “While we can confirm we've had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present, we don't today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we're faced with.

“Unfortunately, with this in mind, today we're having to take the difficult decision to file a notice of intention.

“We'll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business and will encourage those interested parties we're in discussions with to move as fast as possible.

“We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist.”

Wilko, which opened in 1930, secured £40 million from Hilco UK, the owner of Homebase, at the beginning of this year – but this was not enough to save it as it has now filed a notice of intention to appoint administrators.

Hundreds of Wilko stores in the UK could shut following the decision – putting employees, of which there are about 12,000, at risk.

The firm now has 10 days to find a deal, while protected from action by other creditors.

It is being advised by PwC, while property agents CBRE had been brought on board to negotiate with landlords.