An Oxfordshire Wilko will close next week after administrators failed to secure a rescue deal for the whole business.

Administrators for Wilko have revealed the locations of 52 stores, including its store in Banbury, which are set to close on Tuesday, September 12.

The Banbury store can be located near the Castle Quay Shopping Centre in the town.

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PwC, which was appointed to oversee the insolvency last month, said it remains in talks with parties interested in buying the remaining parts of the business.

It comes a day after rival retailer B&M bought up to 51 other Wilko stores in a deal worth up to £13 million.

Administrators added on Wednesday that “it is possible that further store closures may regrettably be necessary”, depending on talks with remaining suitors.

It is understood that HMV owner Doug Putman is still in discussions with PwC over a possible deal to save a significant number of stores.

The raft of closures next week will lead to to 1,016 redundancies, while the company has also announced hundreds of further job losses affecting warehouse and service centre staff.

Edward Williams, joint administrator, said: “In the absence of viable offers for the whole business, very sadly store closures and redundancies of team members from those stores are now necessary.

“The loss of these stores will be felt not only by the team members who served them with such dedication, including through the uncertainty of recent weeks, but also the communities which they have been a part of.”

The Banbury store is currently the only Wilko store in the county known to be closing with the future of other Oxfordshire stores yet to be confirmed.