Minerva, the UK property investment and development company, has confirmed its Allders department store chain is for sale and is currently conducting talks with an Allders MBO team and other unnamed bidders, according to reports. The sales process is still at an early stage and the chain could be sold per unit or as a whole group. Minerva paid £162m for Allders in 2003 but the chain has reported losses of £22.6m for the last fiscal year.