Debenhams agrees to buy eight Allders stores

Department store group Debenhams today said it had agreed to buy eight Allders stores from the administrators of the collapsed UK retail chain.

The shops are among 34 being sold by corporate recovery specialists at Kroll.

Bhs owner Philip Green is thought to be close to buying eight or nine stores while Primark, the discount clothing retailer, is also expected to buy a number of outlets.

The 143-year business went into administration last month after falling victim to tough trading conditions and the failure of its owners to find a buyer. Almost 700 staff were made redundant on Friday, in addition to the 130 cuts already made at the 45-store chain’s head office.

Debenhams - which opened a new Cork store at Mahon Point last week - currently has 107 outlets but wants to open up to 20 more over the next four years.