Quick sale sought for Allders

POTENTIAL bidders for Allders, the department store chain that collapsed into administration last week with debts of £150m, have been given a deadline of Wednesday night to register their interest.

Kroll, the firm appointed as administrator, has told all interested parties to get their bids in so that a sale can be completed quickly.

Joint administrator Andrew Pepper said on Friday that more than 30 parties had expressed interest.

Alchemy, the private equity firm run by Jon Moulton, will be among the bidders keen to acquire the entire 45-strong chain as a going concern.

Debenhams and House of Fraser are believed to be keen on taking over a number of stores.

Allders' pension deficit, which could balloon to £75m if the fund is wound up, had been seen as a potential poison pill to buyers of the whole business.

But insiders said that a new owner would be able to acquire the operation without having to cover the full liabilities.