More potential buyers target Allders
Interest mounting in department store chain
There are now more than 30 potential buyers for all or part of the Allders department store chain, according to administrators Kroll.
Kroll partner Alastair Beveridge said: “The indications are of lots of interest. Some parties can move more quickly because they’ve already done due diligence.
“The interest has been received from a range of parties, from established high street retailers to investment vehicles and private equity firms, and for a range of deals, from a number of stores to the entire portfolio. A few want the whole chain.”
The administrators aim to sell the business quickly and will be in detailed talks with potential buyers over the next week. Retail property agent Dalgleish is advising Kroll on the value of the 45 store chain.
Kroll has also appointed turnround specialist Hilco, which became Allders’ biggest creditor when it bought banker Lehman Brother’s debt at a knock down rate, to advise it on managing the stores.
The administrators say they have the support of two-thirds of Allders concessionaries. Carpetright, Allders’ largest concession operator, has guaranteed all deposits paid for carpets ordered before Allders went into administration, with goods to be delivered as normal.
