'EVERYTHING must go' signs have appeared in Worcester's Wilko store as questions loom over the future of the business.

Wilko announced it had fallen into administration earlier this month after failing to secure a rescue deal, putting more than 400 stores and 12,500 jobs across the UK at risk.

The future of the Worcester store is not currently known, but an image submitted to the Worcester News shows the bargain signs.

In a meeting held on Wednesday, GMB Union said it was informed that the sale of a significant part of the business to a buyer had fallen through.

This means there is no longer any prospect that most of the business will be saved.

GMB advised that people should expect significant redundancies amongst store staff, though the timing is uncertain.

For staff in stores, there remains a possibility that some might be bought, either individually or as part of larger packages.

In the upcoming week, they said, redundancies will start for the staff at the Support Centre and the Distribution Centres (DCs) before the closure.

READ MORE: Wilko stores to close within weeks - see the stores at risk

PricewaterhouseCoopers (PwC) has taken over the administration process for Wilko.

Upon their appointment in early August, PwC warned while stores would continue to trade as normal initially, if a buyer for some or all of the group was not found, "it is likely that store closures and redundancies will follow".

There are 408 Wilko stores across the UK (at the time of publication) which are all at risk of closing in the coming weeks.

These stores employ more than 12,500 staff.