Allders department store in Croydon goes into administration

13:54 16 June 2012

Department store Allders – which has been trading in the London borough of Croydon for 150 years – has gone into administration.

Around 850 jobs are now under threat at what is one of London’s largest remaining department stories.

Croydon Council said the store was unable to raise working capital, and the local authority has pledged to help staff any way it can.

Councillor Mike Fisher, leader of the council, said: “This is a significant blow to the town and it’s particularly sad that this situation has arisen in the year that Allders has been celebrating 150 years of trading in the borough.

“Like the rest of the country, Croydon is grappling with very difficult economic conditions and reduced spending power, and this shows how even the most long-established institutions are potentially threatened.

“Whilst there is no getting away from the fact that this is a very sad day for Croydon, we remain optimistic for the future of retail in the town.

“Two of the country’s largest retail developers remain keenly interested in our main shopping centre, Whitgift, and only a few weeks ago we approved Hammerson’s plans for the remodelling and expansion of Centrale. We are determined to ensure that our regeneration plans remain on track.

“And with new residential and business space already under construction, I still believe we are well-positioned for when the economy as a whole begins to grow again.”

Allders director Andrew Mackenzie blamed “tough market conditions” for the calling in of administrators and added he hoped additional investment or a sale could be achieved.

Sign up for our news alerts today!

Our editors' picks for the day's top news delivered to your inbox or phone.

Sign up for email alerts Sign up for mobile alerts
1
2 3 4 5 6
7

Latest business news

Friday, March 27, 2015
Kboard

Thought phone buttons were hard work? Now people who can’t be bothered to use a touchscreen either can streamline their conversations with a new app.

Sunday, March 22, 2015
Fabric club in Charterhouse Street

Police issue warning about bad batch of MDMA at Farringdon club threatened with closure last year.

Thursday, March 19, 2015
Tunnelling breakthrough at Liverpool Street 'station box'

Tunnelling work in London’s long-awaited Crossrail ‘super tube’ construction is now more than nine-tenths complete.

Monday, March 16, 2015
Fire damage at what is thought to be Loungelover in Shoreditch - London Fire Brigade

Candles left lit inside a doll’s house have been blamed for a fire that caused damage to the ground floor and roof of a Shoreditch nightclub on Friday morning.

Wednesday, March 11, 2015
Broadband speeds in some parts of London are shocking (Photo by Michael Bocchieri/Getty Images)

Say goodbye to streaming Netflix, downloading music or a spot of online gaming if you live on this street in Brixton - which has officially the slowest broadband in central London.

Friday, March 6, 2015
The creators say phones offer 'amazingly more intimate experiences' and want to get users away from their computers (Picture: Spark/Dan Ross)

A new dating app to rival Tinder allows passengers on the Tube who share that brief moment to act on that spark and find love on the Underground.

CCTV pictures capture the youngster’s early morning outing to satisfy her craving.

People are not happy with Hopkins’ comments, yet again.

There’s going to be more than 4,000 people standing for election – and other fun facts.

London Bloggers

Tuesday, February 3, 2015
[Photograph by John Phillips/PA Wire]

Often referred to as a melting pot, London is a city renowned for its rich blend of cultures.

Monday, December 22, 2014
Around 25 per cent of the population self-identity as having no religion yet still enjoy the fun of Christmas (Photo by Oli Scarff/Getty Images)

It’s Christmas time. We know this by the light-adorned streets, the mobility hazard posed by boxes of Quality Street, Roses and Celebrations in every supermarket’s entrance and, of course, the incessant radio-plays of Mariah Carey’s All I Want for Christmas Is You.