"Allders, once Croydon's flagship store, is due to go into administration in the next 24 hours.Some five and half years later, and Allders is yet again in administration.
That is bad news for the staff and pensioners as, aside from the jobs that may be lost, there is a rumour in the City of a £17M black hole in the pension fund.
The Standard reports that the company that owns the Allders chain, Minerva, only acquired Allders to get its hands on the flagship Croydon site.
What does this mean for the centre of Croydon I wonder? "
The Telegraph reports:
"The department store, the third biggest in the UK, today appointed Duff & Phelps as administrator, blaming a sales decline on “the well-publicised economic difficulties facing the UK”. 300 jobs have been put on the line.
The collapse comes in the year that the department store was celebrating its 150th anniversary. It remains open for trading."What now for the centre of Croydon?