High Street retailer Wilko which has stores in Pembroke Dock and Haverfordwest is reported to be at risk of collapse, with thousands of jobs on the line, and the company with 10 days to find a rescue deal.

Wilko which employs about 12,000 people and secured a £40million lifeline from Homebase owner Hilco earlier this year, has filed notice of its intention to appoint administrators at the High Court.

Wilko's chief executive, Mark Jackson, said: "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 an NOI."

PricewaterhouseCoopers (PwC) and property agents CBRE are trying to secure the future of the business, including striking new deals with landlords.

The company which was founded in 1930 by James Kemsey Wilkinson, was among UK retailers who slashed almost 15,000 jobs in January and February this year.