The owner of popular high street retailer HMV is apparently moving closer to a rescue deal that would save the bulk of Wilko stores and more than 8,000 jobs.

This comes after it was announced by administrators PwC and the GMB trade union that redundances would begin after a potential deal fell through.

However, reports are now stating that HMV owner Doug Putman is looking to acquire more than 300 of Wilko's 400 stores, saving between 8,000 and 9,000 jobs.

Sky News reports that a rescue deal between Putman and Wilko could be announced in the coming days though sources close to the situation warned that uncertainty remained until the deal was agreed.

The details of this deal in terms of jobs and stores are yet to be decided, a creditor said.

The creditor added: "It's still in the balance but it is beginning to look more positive that a deal can get done."

Hundreds of Wilko jobs to be lost, says administrators

PwC announced today that some 283 jobs would lost from Wilko's support centre operations with joint administrator Jane Steer, saying: "We will continue to do all that we can to support staff through this period of difficult upheaval, and to maximise their opportunities for a rapid return to work.

"Our priority is to ensure that all team members affected by redundancy are assisted in processing their claims with immediate effect."

It was previously reported that Doug Putman had approached a number of debt providers, including firms like Gordon Brothers and Hilco for help financing his deal.

A number of parties have considered the prospect of purchasing stores with Poundland's parent company and B&M European Value Retail eyeing up 150 stores between them.

The Range is another retailer that has made an offer to buy Wilko's brand and online operations.