BusinessBusiness RecoveryDuff & Phelps administrators called to Allders

Duff & Phelps administrators called to Allders

One of the UK’s largest department stores collapses into administration

ONE OF THE COUNTRY’S biggest department stores, Allders of Croydon, has collapsed, with Duff & Phelps administrators appointed.

Geoff Bouchier, Matthew Bond and Philip Duffy were appointed joint-administrators to the retailer, putting about 300 store jobs at risk. There are a further 500 staff employed at the concessions.

The 150-year-old store’s failure is the latest set-back for part-owner Harold Tilman, who recently called in FRP Advisory administrators to his fashion retailer Aquascutum earlier this year.

A statement from the Duff & Phelps administrators said: “The board of Allders has today taken the decision to place the company into administration following a marked downturn in sales brought on by the well-publicised economic difficulties facing the UK.”

They confirmed that the store will remain open for business and concession partners will continue to support the business during the administration process.

Allders director Andrew Mackenzie said: “Whilst our funders, shareholders and concession partners have been supportive throughout and the ongoing restructure was progressing, the tough market conditions in the UK retail sector have forced the board to appoint administrators in order to protect the business and its creditors.”

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