A deal to save the remaining 300 Wilko stores has fallen through, leaving further uncertainty over the future of Kenilworth's branch.

HMV's billionaire owner Doug Putman had tabled plans to rescue the vast majority of the discount retailer stores, but his bid has been pulled due to rising costs.

Administrators at PricewaterhouseCoopers (PwC) are expected to announce further closures and job losses in the coming days.

In a statement to The Sun, Mr Putman said: "It is with great disappointment that we can no longer continue in the purchase process for Wilko having worked with administrators and suppliers over several weeks to seek a viable way to rescue it as a going concern."

Last week Kenilworth's Station Road Wilko was not included in a list of 52 stores set to close.

PwC confirmed the 93-year-old chain will be axing stores nationwide, with 1,300 employees set to be made redundant.

Closures will begin as early as Tuesday, with 24 stores shutting their doors.

Rival retailer B&M confirmed last week that it will spend £13 million on a further 51 Wilko branches - but none of these stores have yet been named.

And the deal still leaves 300 Wilko sites without a clear future after the company fell into administration in August.