High street retailer Wilko has gone into administration putting jobs at risk in Porthmadog, Pwllheli and Carmarthen. Wilko warned last week it was on the brink of collapse due to mounting cost pressures.

The homeware retailer which has stores in Porthmadog, Pwllheli and Carmarthen, filed a notice of intent (NOI) to appoint administrators – putting 12,000 jobs at risk across its 400 stores in the UK.

CEO Mark Jackson said: "We've all fought hard to keep this incredible business intact but must concede that time has run out and now, we must do what's best to preserve as many jobs as possible, for as long as is possible, by working with our appointed administrators."

PwC will handle the administration for Wilko, which is believed to have around 400 stores.

Reacting to the announcement last week that Wilko was in trouble, Dwyfor Meirionnydd politicians, Liz Saville Roberts MP and Mabon ap Gwynfor MS said in a joint statement: 'This announcement will cause real anxiety and uncertainty for staff, at a time when the cost-of-living crisis is causing an unprecedented squeeze on household finances.

“Our thoughts are first and foremost with all the staff likely to be affected by this devastating news, particularly workers at our local stores in Porthmadog and Pwllheli.

“We hope a speedy and positive outcome can be achieved, but our offices stand ready to support those affected by this decision.”