The news looks likely to effect local stores in Mansfield, Sutton, Alfreton and Hucknall
At a meeting with administrators on Wednesday GMB Union was informed there is no longer any prospect that the majority of the Nottinghamshire based business will be saved.
This means redundancies for staff in store and at call centres will begin during the coming weeks.
Some stores may be bought, either individually or as part of larger packages, but significant job losses are now expected.
Andy Prendergast, GMB National Secretary, said:
“GMB Union will continue to support members through this process and will fight to ensure members are consulted as per the law and that you receive every penny you are entitled to.
“We will fight to ensure Wilko bosses are held accountable for the simple reason our members deserve so much better.
“GMB will not forget the incompetence that has led to this collapse and will we not forget the dividends paid to the millionaires who gambled your jobs on their whims
Nottinghamshire crafters knit thousands of care squares
Only three months until blast off for new planetarium
Thousands flock to Nottinghamshire Day spectacular at Sherwood Forest
Mansfield Paralympian is ready for Paris
New Discover Ashfield website
Problem property in Mansfield closed after drugs complaints
Notts Police take part in national 'zombie-style' weapon surrender scheme
Multiple arrests following disorder in Mansfield
