Mike Fisher, the leader of Croydon Council, this afternoon sent a message to his fellow councillors, which we reproduce here:
Today Allders announced that it has gone into administration. As you will all know, this is a well known and respected store which has been trading in Croydon for over 150 years.
The council has taken this situation very seriously and has been working very closely with the Allders management and other stakeholders in trying to prevent the store going into administration. This has included offering help on business rates.
Despite these offers, the store was unable to raise the necessary working capital to make it a viable concern. As such, the management team of Allders felt the only course of action left was going into administration. This is disappointing and upsetting for everyone involved.
Our major priority now is to work with the administrators to see if we can secure a future for the store.
In the event that the store does actually close, the council is developing plans to ensure that the employees get the advice and support they need. As some local businesses are also likely to be affected, we will ensure that they too get the advice and support they need.
This situation makes the work the council is doing on economic development and regeneration even more important. We know that two of the country’s largest retail developers remain very interested in the Whitgift Centre. In addition, the Strategic Planning Committee recently approved Hammerson’s plans for the remodelling of and expansion of Centrale.
We will ensure that all members are kept up to date on the situation and the work we will be doing to support Allders employees and local businesses.
Inside Croydon was the first local website to report on Allders’ financial problems earlier this week. Catch-up with our coverage here:
- FRIDAY: Concessions left owed thousands as Allders goes into administration
- THURSDAY: Allders chief blames council for lack of help since August riots
- TUESDAY: Deal on rent is crucial for Allders’ future, reports say
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