BDO halts Allsports closures
BDO issues stay of execution over Allsports stores, but redundancies still on the cards
A ‘significant bid’ for troubled retailer Allsports has delayed plans to
close stores and make redundancies, according to administrators BDO Stoy
Hayward.
BDO partner Dermot Power said that the closure program has been ‘deferred’
due to the possible bid to run large parts of the business as a going concern.
But he warned that store redundancies and head office cost cutting could
still take place ‘as early as next week’.
BDO also confirmed that customers holding store vouchers or ‘top-up’ payment
cards are treated as unsecured creditors. But voucher and card holders should
hold onto them, as BDO was attempting to have both honoured by any potential new
owner of the business.
Allsports has 260 stores across Britain and employs over 1,700 people.