Allders faces bid deadline
Hilco has acquired department store debt
Allders has until the end of this month to agree a sale of its stores, or faces being put into administration by the new holder of its debt.
It has emerged that it was turnound specialist Hilco which acquired the debt in Allders owner Scarlett Retail from Lehman Brothers earlier this week.
The [i]Daily Telegraph [/i]reports that Hilco has told Scarlett Retail that the sale process should continue until the end of this month. If no deal can be agreed, Hilco might then put the underperforming department store business into administration, as it did when it bought menswear chain Ciro Citterio in 2003.
Potential buyers for at least some Allders stores include rival department store group Debenhams and discount fashion retailer Primark, owned by Associated British Foods. However, the [i]Telegraph [/i]says Hilco has dropped any plans of its own to acquire Allders.
