BusinessCompany NewsKroll touted to be Allders administrator

Kroll touted to be Allders administrator

Restructuring experts Kroll have been tipped to come in as administrators for Allders, as 7,000 jobs hang in the balance and 2,500 pension scheme members face the prospect of reduced benefits.

Link: Kroll to investigate at Regent Inns

Customers who have placed orders could also suffer, as it appears unlikely that the business will survive as a going concern.

The Daily Mail reported that insiders at the department store felt that administration was a near certainty despite last-ditch talks.

Allders, owned by Minerva, has been up for sale for a month now, but buyers have been hesitant to take over the pension liabilities.

Allders owns 45 department and homeware stores, but has suffered losses of £27m for the financial year to June 2004.

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