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Last Updated: Friday, 11 February, 2005, 16:58 GMT
Crisis-hit Allders cuts 680 jobs
Allders store
Administrators have been unable to sell the chain as a going concern
Administrators for Allders, the stricken department store, have said 680 jobs are to be cut.

The announcement came days after the administrators, Kroll, said they had failed to find a buyer for the company as a going concern.

They said 471 shop employees had been made redundant "to remove overstaffing" at a number of its stores.

Another 209 workers were made redundant at the company's Croydon headquarters and from its logistics operations.

The job losses have been made across all its stores.

The group continues to employ about 5,000 employees with an additional 4,300 working at in-store concessions.

'Limited' interest

The administrators said they were in an "advanced stage with bidders with regard to 34 stores and all 45 stores remain open".

Kroll also said they had also agreed to make payments to the pension scheme of 58,000 a month until June.

"It was necessary to reduce the level of employment to meet the needs of each individual store," said a spokesman for Kroll.

The 143-year-old business went under last month after falling victim to tough trading conditions and the failure of its owners to find a buyer.

Despite a management shake-up two years ago, the company has continued to rack up losses.

On Sunday, Kroll announced that it would be forced to break up the business after 10 stores attracted only "limited" interest, but this has now increased to 11 according to its latest statement.

"The stores continue to trade well and, in particular, trading at the 11 stores where the administrators are not currently in talks with bidders is particularly strong," Kroll added.




SEE ALSO:
Allders break up threatens jobs
06 Feb 05 |  Business
Allders receives 36 takeover bids
04 Feb 05 |  Business
Allders head office staff sacked
01 Feb 05 |  Business
Allders in talks with 'suitors'
28 Jan 05 |  Business
Allders store chain up for sale
08 Dec 04 |  Business


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