Suffolk's Wilko stores may not be forced to close after a second, last-minute bid was launched to save the stricken high street retailer. 

The household goods chain fell into administration two weeks ago, putting 400 shops across the country at risk of closure, with holding company PWC seeking offers in an effort to save jobs and stores.

Last week a huge administration sale was launched at Ipswich's Wilko store

But only now has restructuring specialist M2 Capita offered £90m to keep the entire Wilko chain trading, the Guardian reports.

Reacting to reports of a second bid, Andy Prendergast, GMB union secretary, said: "The devil is in the detail but any bid that guarantees jobs must be prioritised.

"Losing Wilko will not only put 12,500 people out of work across the country but would also be another nail in the coffin of the high street.

"PWwC must recognise that creditors are not the only people with a stake in this – working people's livelihoods must be the priority."

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."

Wilko has stores across Suffolk including Ipswich, Mildenhall, Bury St Edmunds and Lowestoft.

Last week it was announced that the stores were set to close after the firm failed to find a buyer for the whole business, administrators said. 

The owners of Poundland and B&M were also reported to be in talks to acquire around 150 of the Wilko stores last week.

Founded by James Kemsey Wilkinson in 1930, the company's first store opened on Charnwood Street under the Wilkinson Cash Stores brand in Leicester.