Tue, 11 Sep 2012 | ADMINISTRATION
Allders department store has failed to find a buyer and looks set to close its doors later this month.
Administrators Duff & Phelps were appointed in June to attempt to arrange a sale of the retailer. Despite receiving several expressions of interest, the firm was unable to find a tenable successor to buy the business to continue trade.
The uncertainty regarding the long-term future of the property as a result of planned redevelopment was one of the key matters preventing a new company from making a commitment to the store.
Geoff Bouchier, partner at Duff & Phelps, commented: “It is with sadness that we are making this announcement, as we recognise that the store is an historic and iconic landmark in the local community.
“We would like to take this opportunity to thank the staff of Allders, the concession partners, Croydon Council and the landlord Minerva for their continued support throughout the administration trading period.”
Around 850 staff are expected to lose their jobs as a result of the store’s closure.
Croydon Council leader Mike Fisher, however, suggested that the plans for the redevelopment of the area will give the site a “new lease of life”. “We will be working closely with the landlords to bring the space back into use as quickly as possible,” he added.
This is a unique opportunity to acquire a rapidly expanding Kent-based electrical contractor with prestigious UK-wide contracts, including a significant project for a nationwide hotel chain.
This is an opportunity to acquire a reputable home care service provider based in the East Midlands, specialising in comprehensive care for dementia patients, palliative care, and assistance for younger adults with disabilities.
Opportunity to acquire a long-established MEP building services contractor specialising in designing, installing, and maintaining M&E, HVAC, plumbing, and energy centre solutions.
Looking for more businesses? Try our off-market tool.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.