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Allders to close after 150 years

The historic Allders department store in Croydon is close its doors for the last time on 22 September.


Allders to close after 150 years

The historic Allders department store in Croydon is close its doors for the last time on 22 September.

The closure of 150-year-old store, which collapsed into administration in June, is likely to result in the loss hundreds of full and part time jobs.

A statement released by administrators Duff & Phelps on Friday said: "Today, the Joint Administrators of Allders (Croydon) Limited have announced that the Croydon based department store is to close, with the final day of trading anticipated to be September 22, 2012.

"The Joint Administrators, all of leading global financial advisory and investment banking firm Duff & Phelps were appointed on June 15, 2012, and since their appointment have explored all potential options to secure a buyer for the business as a going concern and safeguard employment.

"Although a number of parties expressed interest during the marketing process, no formal offer was received and the remaining interested party withdrew their interest within the last 24 hours."

Geoff Bouchier of Duff & Phelps, added: "It is with sadness that we are making this announcement as we recognise that the store is an historic and iconic landmark in the local community.

"We would like to take this opportunity to thank the staff of Allders, the concession partners, Croydon Council and the landlord Minerva for their continued support throughout the Administration trading period."

Croydon Council said it had tried to find a workable solution to enable Allders to continue trading, but added: "Unfortunately, the administrators have not been able to negotiate a rescue deal with any prospective investor in the time available."

The Council is now setting up an Allders Staff Support Group which will offer advice from Jobcentre Plus, the Skills Funding Agency, Croydon Adult Learning Services, Croydon College and local retailers.

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