This is the best summary I could come up with:

But PwC said it was working “relentlessly” to secure a sale of the retailer and “talks are continuing with a number of parties” in what the BBC has learnt has been dubbed “Project Falcon” by the firm.

Wilko had been struggling with a cash shortage and a failure to keep up with rivals such as B&M and Poundland as the soaring cost of living has pushed shoppers to seek out bargains.

Reports in the Guardian newspaper suggested that some industry experts were sceptical that a rescue deal would emerge because liquidation might result in a better outcome for Wilko’s creditors, such as Hilco.

When administrators take over a failed business, they are obligated to try to work out how to get the best return for those that the firm owed money to, as opposed to protecting jobs or keeping shops open.

Shoppers had noticed gaps on shelves after Wilko struggled to pay suppliers and at least one credit insurer withdrew trade cover, prompting some companies to pause deliveries.

Lisa Wilkinson, the retailer’s chairwoman until January this year and the granddaughter of the firm’s founder, told the Sunday Times “everybody has thrown everything” at trying to save the business.

The original article contains 692 words, the summary contains 198 words. Saved 71%. I’m a bot and I’m open source!