Named and Shamed

Named and Shamed


Squalid roads, buildings and locations in Croydon named and shamed.

Saturday, February 12, 2005

Allders Undervalued?

The Times repprts that Alan Johnson, the Secretary of State for Work and Pensions, is under increasing pressure to look at events surrounding the collapse of Allders and the potential loss of the employees’ pensions.

Staff at the chain’s Hull shop have collected a petition asking Mr Johnson, who is the MP for Hull West, to investigate last April’s sale of Allders’ store in Croydon to Minerva, the property company that owns 60 per cent of the chain’s parent company, for £49 million.

The workers believe was far below the store’s true value. Minerva has said that it will not cover any of the pension fund’s liabilities.

This is going to get ugly.

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