A fresh bid to save Wilko, including its 10 stores in Kent, has been put forward.

The high street retailer filed a notice of intent to appoint administrators earlier this month, putting 12,500 jobs and 400 stores at risk.

However, it has emerged that Private equity firm M2 Capital has made a £90m bid for the business and has pledged to “retain all employees' jobs for two years”.

The latest offer, which was first reported by the Guardian, is one of several schemes being considered by administrators PricewaterhouseCoopers (PwC).

The company set a deadline of last Friday for bids for the chain and has been busy reviewing all offers.

A spokesperson for PwC said: “Since our appointment as administrators of Wilko we have worked relentlessly to secure a sale of the business, and talks are continuing with a number of parties.

“As administrators, we’re intent on achieving the best outcome for everyone involved while preserving as many jobs as possible and adhering to our statutory duty to act in the best interests of the creditors as a whole.

“It would be inappropriate to comment on individual bidders or interested parties at this stage in the process.”

Robert Mantse, M2 managing director, told the BBC that if the firm's rescue bid was accepted, the company would "guarantee all employees' jobs for two years".

It was previously reported the owner of HMV, Canadian businessman Doug Putman, was also interested in salvaging some of the Wilko business. It is understood his bid would seek to keep the majority of Wilko stores open.

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.

The budget homewares chain has stores across the county, in Ashford, Canterbury, Folkestone, Sittingbourne, Maidstone, Rainham, Gillingham, Chatham, Strood and Tunbridge Wells.