BusinessCompany NewsKroll cuts Allders directors

Kroll cuts Allders directors

Kroll has terminated the contracts of three of the most senior directors at troubled department store business Allders.

Link: Kroll touted to be Allders administrator

The directors, chief executive Terry Green, FD Harvey Ainley and commercial director Phil Cox, were dismissed last night by administrators Kroll.

A statement read that the now-former directors were ‘keen to assist the administrators as efforts to sell the business continue, and they will fulfil their duties as directors’.

However, Kroll would not confirm reports that the directors would not receive a payoff.

Andrew Pepper, joint administrator of Allders, said that 130 staff would be made redundant from its head office in Croydon.

‘Unfortunately, it has been necessary to make some head office staff redundant, which was necessary to reduce clear overstaffing at Allders’ headquarters,’ said Pepper. ‘It is always regrettable to make any redundancies but, when also taking into consideration those employed in the concessions, this is a business employing approximately 10,000 people and it is necessary to take some tough decisions in order to provide the best chance for the company as a whole.’

No further redundancies are planned across its 5,700 employees across 45 stores, Kroll added, and discussions are still ongoing for its sale as a going concern.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

1m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

5m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

5m Alia Shoaib, Reporter
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

8m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

8m Emma Smith, Managing Editor
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

8m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

8m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

8m Emma Smith, Managing Editor