Surrey department store Allders of Croydon has called in the administrators.
Allders has appointed Duff & Phelps as administrator to explore “all options” to save the business, blaming a sales decline on “the well-publicised economic difficulties facing the UK”.
Allders director Andrew Mackenzie said: “Whilst our funders, shareholders and concession partners have been supportive throughout and the ongoing restructure was progressing, the tough market conditions in the UK retail sector have forced the board to appoint administrators in order to protect the business and its creditors.
“We will now work with the administrator to continue ongoing discussions with funders and other interested parties in the business. With the considerable support already given by Croydon Council and our landlord Minerva, I would hope that additional investment or a sale can be achieved.”
Allders remains open for business and the company said: “Concession partners are continuing to support the business during the administration. Outstanding customer orders continue to be fulfilled.”