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Article: Allders stores on the verge of collapse; 7,000 JOBS AT RISK AS HIGH STREET DEPARTMENT CHAIN MAY BE SOLD PIECEMEAL.
- Article from:
- The Evening Standard (London, England)
- Article date:
- January 26, 2005
CopyrightCOPYRIGHT 2005 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: NICK GOODWAY
ALLDERS, the 45-strong stores chain, is on the verge of collapse and could be put into administration today. The move would put 7,000 jobs at risk and threaten the pension rights of 2,500 employees.
Bankers to the group will confirm the collapse of the business with the appointment of administrators ordered to sell off the group piecemeal.
Customers who have ordered goods may find themselves losing out, since there appears little chance of the chain surviving as a going concern. As with the recent collapse of the Courts furniture group, people who paid cash for goods on order are most at risk.
Allders was taken ...