Homeware and general merchandise chain Wilko has hired advisors as it looks to secure rent reductions.
The chain has recruited property agent CBRE as it seeks to cut its cost base.
A CVA is under consideration, with PWC in line to manage the process.
The chain has already cut head office numbers and Mark Jackson’s turnaround plan and secured £40m of funding from Hilco. This saw it given security over much of Wilko’s intellectual property, including its logo, marketing slogans and various own-label product names.
Before the loan, it had warned last year it would run out of cash this year if trading did not improve.
